During the intraday morning live session, it was explained that for intraday trades you should first look for a pullback; don’t chase when price is high. Here at 868, it’s been filled/achieved, and 866 is also a hint that you can chase/enter at the current price. For a pullback, first look at 853 (the previous four-hour high forms a “top-to-bottom turn,” and on the short-term basis, after the 15-minute line’s Bollinger lower band tightens and then opens again ahead, the target is the Bollinger lower band). After the morning consolidation, price continued to weaken, which just happened to reach the target level. So every location provided is determined according to the market/order book; when the order book changes, you also need to adjust accordingly—don’t trade based on hunch. Any talk about going 10, going 5, etc. is later. What matters most is what’s in front of you. So what will happen next……
From the order book perspective: after the price spikes upward, sell pressure stacks on top, and the short-position pinching pressure supports/anchors the drop, while at the same time the four-hour chart has entered severe overbought conditions. With market sentiment already at a high level, the willingness to chase longs is weak—so a pullback is inevitable. However, in terms of the bigger trend, the bull structure is still intact, so the pullback won’t be too much.
Therefore the approach can change: look to buy on pullbacks for upside; pullback strength for longs.
If it pulls back around 852 to 848, look for a move from about 867 to 871. $BTC
$ETH
#NEAR一周涨近80% #MultiversX计划协调硬分叉恢复 #Circle推出机构比特币抵押借贷
From the order book perspective: after the price spikes upward, sell pressure stacks on top, and the short-position pinching pressure supports/anchors the drop, while at the same time the four-hour chart has entered severe overbought conditions. With market sentiment already at a high level, the willingness to chase longs is weak—so a pullback is inevitable. However, in terms of the bigger trend, the bull structure is still intact, so the pullback won’t be too much.
Therefore the approach can change: look to buy on pullbacks for upside; pullback strength for longs.
If it pulls back around 852 to 848, look for a move from about 867 to 871. $BTC
$ETH
#NEAR一周涨近80% #MultiversX计划协调硬分叉恢复 #Circle推出机构比特币抵押借贷
