Trend, Position Control, and Selection - The Three Steps to Success!!!

Last night, Bitcoin continued its strong performance in the near term, breaking through the $64,000 mark in the early morning, reaching $60,000 for the first time in 28 months, setting a new high since November 2021. This is the highest price for Bitcoin since November 2021, just a step away from the all-time high of $68,991. Within 24 hours, 110,000 people were liquidated, with a total liquidation amount of $447 million. Stimulated by the sharp rise in Bitcoin, the market collectively surged; Ethereum, Dogecoin, BNB, and others all rose significantly, with Ethereum reaching $3,500 at one point, the highest level since April 2022.

BTC daily chart shows six consecutive bullish candles, advancing strongly; in the face of such a strong market, we are faced with two choices: blindly chasing the rise, risking a sharp decline; or exercising restraint, avoiding rushing into the market due to fears of missing out on the trend. In terms of the daily chart trend, the best strategy is to patiently observe and wait for a reasonable turning point before seeking a suitable entry opportunity.

On the four-hour chart, we can see that the current market is in the second phase of the uptrend. The first phase was at $51,000, with the high reaching $57,600. After a double top, two days of oscillation, and accumulation, the second round of upward movement started from $57,000, with the target position reaching $64,500. The initial high point was reached, showing signs of a double top again. At the same time, the early morning retracement combined with the complete manipulation of the market by the institutions.

Technical analysis shows that the obvious uptrend lines formed at $51,000 and $57,000 are currently difficult to break through due to the influence of the trend lines. Attention should be paid to the second test near the high point of $64,400 and the trend line support at $61,100. If the daily high point gradually moves downward, it is very likely to be a downward retracement and repair trend. Today is the last day of February. Whether the monthly chart closes with a doji or a long upper shadow, let's wait and see.

Today's strategy: Continue to buy on retracements. Enter long positions in the range of $60,450 to $60,850 for BTC. Assess the rebound situation in the evening. If the market breaks through unexpectedly, we will make adjustments on the spot.

Due to the impact of the review time, for subsequent real-time adjustments, offline real-time strategies are the main focus. The suggestions are for reference only. Follow my lead to make profits. You can do it too!!! Rain or shine, I'll be waiting for you.

WeChat Official Account: Zhuge Talks Coin

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。