$BTC 【Bitcoin has pulled back as expected into the anticipated 72,000–73,000 range, and part of the position has been successfully entered】
Bitcoin is trading around 74,000.
As I’ve been warning recently, Bitcoin may still see a short-term pullback. You could build a position of around 50% in the 72,000–73,000 range. The opportunity came last night, when the price dipped to just above 72,700, and I successfully entered. You can check my earlier posts.
Now, looking at Chart 2: I’ve been pointing out that the 0.5 Fibonacci retracement level and the green trendline below are strong support. As you can see, the price came very close to them last night.
Now, looking at Chart 3: On the 1-hour chart, Bitcoin is inside a descending parallel channel. Let’s see whether it can break above the upper trendline. If it does, a sustained rebound is very likely to begin. Otherwise, the price may return to support at the lower trendline before rebounding. I think a rebound after another test of the lower trendline would be more convincing.
So, as for trading, I’m still referring to my recent recommendation—see Chart 1 below. If the price dips further and you haven’t filled your position, continue to follow the original plan.
$ETH $NVDA
Bitcoin is trading around 74,000.
As I’ve been warning recently, Bitcoin may still see a short-term pullback. You could build a position of around 50% in the 72,000–73,000 range. The opportunity came last night, when the price dipped to just above 72,700, and I successfully entered. You can check my earlier posts.
Now, looking at Chart 2: I’ve been pointing out that the 0.5 Fibonacci retracement level and the green trendline below are strong support. As you can see, the price came very close to them last night.
Now, looking at Chart 3: On the 1-hour chart, Bitcoin is inside a descending parallel channel. Let’s see whether it can break above the upper trendline. If it does, a sustained rebound is very likely to begin. Otherwise, the price may return to support at the lower trendline before rebounding. I think a rebound after another test of the lower trendline would be more convincing.
So, as for trading, I’m still referring to my recent recommendation—see Chart 1 below. If the price dips further and you haven’t filled your position, continue to follow the original plan.
$ETH $NVDA
