Bitcoin has moved back above 81800, and this level has indeed held. We also didn’t rush into our short positions; once the expected level broke, the approach needed to be adjusted in time. Our trading approach has always been very clear: we won’t let a couple of K-line swings throw off the rhythm, and we certainly won’t stubbornly hold on when the direction is wrong. Once a key level stabilizes, we should switch our thinking accordingly. Trading is about the market structure, not fighting the trend.
This Bitcoin move from around 80800 formed a fairly complete rebound structure after bottoming out. On the four-hour chart, several consecutive K-lines pushed the price back above the mid-band, which shows that the previous selloff has not continued to expand for now, and buying support at lower levels has clearly strengthened. Now that it has moved above 82000, the pace has shifted from a sharp rally to sideways digestion. After reaching a high of 82295 earlier, there was no obvious large bearish pullback, which suggests bulls are still defending. The current move looks more like normal turnover after a rebound. Looking at the one-hour chart, after the low turned up, both highs and lows have been rising, and price has continued to trade above the mid-band. Although there was a pullback after the recent surge, the retracement was not strong. In the short term, as long as it does not fall back below the initial breakout area of this wave, the overall bias remains bullish. Above, first watch whether the previous high area can be reclaimed. If it stabilizes there, there is still room for further upside expansion, so the main idea is to buy on pullbacks.
Bitcoin long at 81700-81900, first target 82450, then 82900.
Ethereum long at 2400-2415, first target 2440, then 2470.$BTC
$ETH
#比特币突破8.2万美元
This Bitcoin move from around 80800 formed a fairly complete rebound structure after bottoming out. On the four-hour chart, several consecutive K-lines pushed the price back above the mid-band, which shows that the previous selloff has not continued to expand for now, and buying support at lower levels has clearly strengthened. Now that it has moved above 82000, the pace has shifted from a sharp rally to sideways digestion. After reaching a high of 82295 earlier, there was no obvious large bearish pullback, which suggests bulls are still defending. The current move looks more like normal turnover after a rebound. Looking at the one-hour chart, after the low turned up, both highs and lows have been rising, and price has continued to trade above the mid-band. Although there was a pullback after the recent surge, the retracement was not strong. In the short term, as long as it does not fall back below the initial breakout area of this wave, the overall bias remains bullish. Above, first watch whether the previous high area can be reclaimed. If it stabilizes there, there is still room for further upside expansion, so the main idea is to buy on pullbacks.
Bitcoin long at 81700-81900, first target 82450, then 82900.
Ethereum long at 2400-2415, first target 2440, then 2470.$BTC
$ETH
#比特币突破8.2万美元