BTC is about to break through 82,200; focus on whether 82,800 can break and hold, or whether it turns out to be a false breakout.
Last Saturday, I posted and told everyone that after breaking 81,000, it would most likely move to break that high at 82,200. Although it hasn’t broken 82,200 yet, based on the current momentum, there isn’t much suspense—breaking 82,200 should be completed today. We also entered long positions three times at three levels: 80,400, 81,000, and 81,200. In this kind of market, going long at lower levels is relatively easy to profit from. For this take-profit, we will place it around 82,400, because 82,500–82,800 is a heavy resistance zone. It may not necessarily break through there, so once we reach this resistance area, we will choose to wait and see. If it can’t break through, then it’s possible to short here; or if there’s a false breakout that drops back with increased volume, that’s also a good opportunity to short.
Next, we need to focus on the resistance at 82,800. If it can hold above 82,800, then afterwards it will likely move toward 86,000. If it can’t break and hold 82,800, or if 82,800 gets a wick/pin and then drops back with increased volume, then I think there may be a pullback.
Last Saturday, I posted and told everyone that after breaking 81,000, it would most likely move to break that high at 82,200. Although it hasn’t broken 82,200 yet, based on the current momentum, there isn’t much suspense—breaking 82,200 should be completed today. We also entered long positions three times at three levels: 80,400, 81,000, and 81,200. In this kind of market, going long at lower levels is relatively easy to profit from. For this take-profit, we will place it around 82,400, because 82,500–82,800 is a heavy resistance zone. It may not necessarily break through there, so once we reach this resistance area, we will choose to wait and see. If it can’t break through, then it’s possible to short here; or if there’s a false breakout that drops back with increased volume, that’s also a good opportunity to short.
Next, we need to focus on the resistance at 82,800. If it can hold above 82,800, then afterwards it will likely move toward 86,000. If it can’t break and hold 82,800, or if 82,800 gets a wick/pin and then drops back with increased volume, then I think there may be a pullback.
