Using the high level to replace a decline later on to continue the uptrend
#BTC走势分析 What do you think about Bitcoin?
There are no bearish signals at the moment, so for now we don’t consider topping.
From its strong move to stand above the 50-day moving average and its breakout.
From this moment on, it feels like you can smell a hint of a bull market.
Today, the daily timeframe will test the 85,200 level and it has not broken down. If it does break, it will then test around 83,500. Based on the current situation, it won’t form a large-scale pullback.
Looking back at the 4-hour chart: although there is a potential drop of 7,000 points from the high to the bottom, the entire up leg has already provided more than 20,000 points of room. In the high-range consolidation, I don’t think it will turn into a major correction. Instead, it looks more like (high consolidation using sideways-to-avoid-a-drop) to continue the uptrend.
If the short-term keeps dipping, that would be an opportunity to get in and add positions. At the moment, it appears to be testing the pressure level near the 90,000 threshold.
You can keep following me and I’ll provide real-time updates on my views.
#BTC走势分析 What do you think about Bitcoin?
There are no bearish signals at the moment, so for now we don’t consider topping.
From its strong move to stand above the 50-day moving average and its breakout.
From this moment on, it feels like you can smell a hint of a bull market.
Today, the daily timeframe will test the 85,200 level and it has not broken down. If it does break, it will then test around 83,500. Based on the current situation, it won’t form a large-scale pullback.
Looking back at the 4-hour chart: although there is a potential drop of 7,000 points from the high to the bottom, the entire up leg has already provided more than 20,000 points of room. In the high-range consolidation, I don’t think it will turn into a major correction. Instead, it looks more like (high consolidation using sideways-to-avoid-a-drop) to continue the uptrend.
If the short-term keeps dipping, that would be an opportunity to get in and add positions. At the moment, it appears to be testing the pressure level near the 90,000 threshold.
You can keep following me and I’ll provide real-time updates on my views.
