$BTC These bulls are incredibly strong. It’s hard to see a pullback of more than 10,000 points at this stage. We probably need to push above 90,000 before we get a substantial correction. For now, buy every dip!!! Let’s take a look at the 4-hour chart.
This rising trendline is firmly holding up the market! Since finding a bottom at 74602.6, the bulls have been on the offensive. Price is now moving sideways and consolidating around the key 82647.0 level.
Key levels:
Strong support: 82647.0; ultimate bottom: 74602.6
Ultimate resistance above: 87310.5, also the high at the end of this trendline
Market outlook:
We’re now in a shakeout phase after a sharp rally. The market makers are driving the price up and down to shake out weak hands. As long as a 4-hour candle doesn’t close as a large bearish candle below 82647, this uptrend structure remains completely intact, and the bulls are still in control!
Trading plan: If price pulls back to around 82647 and holds steady, enter long in batches. The first target is 87310.5. If price breaks above and holds this level on strong volume, the upside will open up completely.
Risk limit: If a 4-hour candle closes decisively below 82647, the uptrend structure is invalidated. Don’t stubbornly hold your long position—close it immediately and wait for the next support level.
Remember, always use a stop-loss when trading, and never go all-in with a large position. #BTC
This rising trendline is firmly holding up the market! Since finding a bottom at 74602.6, the bulls have been on the offensive. Price is now moving sideways and consolidating around the key 82647.0 level.
Key levels:
Strong support: 82647.0; ultimate bottom: 74602.6
Ultimate resistance above: 87310.5, also the high at the end of this trendline
Market outlook:
We’re now in a shakeout phase after a sharp rally. The market makers are driving the price up and down to shake out weak hands. As long as a 4-hour candle doesn’t close as a large bearish candle below 82647, this uptrend structure remains completely intact, and the bulls are still in control!
Trading plan: If price pulls back to around 82647 and holds steady, enter long in batches. The first target is 87310.5. If price breaks above and holds this level on strong volume, the upside will open up completely.
Risk limit: If a 4-hour candle closes decisively below 82647, the uptrend structure is invalidated. Don’t stubbornly hold your long position—close it immediately and wait for the next support level.
Remember, always use a stop-loss when trading, and never go all-in with a large position. #BTC