9.23 $BTC Bottom trend confirmation; in the short term, it will likely continue pushing higher
Yesterday, I expected the price to rise further, using the daily uptrend band as support. The reference for a low-buy was around 85300. After the price dipped to a low near 85000, it made a slight upward lift; the daily candle closed as a small bearish (almost indecisive) candle. This is a healthy repair after a big rally.
At present, there has not yet been a first pullback. The trend still allows for an aggressive long.
Larger framework: the price has broken above the weekly 60-day moving average and has held above the weekly band plus the previous high of 82800. The market has officially shifted from a downtrend to an A-wave upward move.
On the daily chart, it has a three-leg style rally. We are currently in the middle portion of the third leg of the rally. There has been a valid breakout above the upper boundary of the second-leg consolidation, and upside room has opened.
Key resistance: 90000–92000. This zone often triggers a higher-level pullback. For the short-term, the first target is to break above 87358. If it holds, then look for 88000–90000.
The short-term structure is an upward oscillation, with only shallow pullbacks. Maintain a low-buy setup supported by 85000. Trading approach: pull back to go long, with a reference entry around 85500.
Risk control points: after making new highs, watch for selling pressure. If the price spikes up and then pulls back, and once it breaks below 85000, the trend weakens—do not blindly keep going long.
Yesterday, I expected the price to rise further, using the daily uptrend band as support. The reference for a low-buy was around 85300. After the price dipped to a low near 85000, it made a slight upward lift; the daily candle closed as a small bearish (almost indecisive) candle. This is a healthy repair after a big rally.
At present, there has not yet been a first pullback. The trend still allows for an aggressive long.
Larger framework: the price has broken above the weekly 60-day moving average and has held above the weekly band plus the previous high of 82800. The market has officially shifted from a downtrend to an A-wave upward move.
On the daily chart, it has a three-leg style rally. We are currently in the middle portion of the third leg of the rally. There has been a valid breakout above the upper boundary of the second-leg consolidation, and upside room has opened.
Key resistance: 90000–92000. This zone often triggers a higher-level pullback. For the short-term, the first target is to break above 87358. If it holds, then look for 88000–90000.
The short-term structure is an upward oscillation, with only shallow pullbacks. Maintain a low-buy setup supported by 85000. Trading approach: pull back to go long, with a reference entry around 85500.
Risk control points: after making new highs, watch for selling pressure. If the price spikes up and then pulls back, and once it breaks below 85000, the trend weakens—do not blindly keep going long.
