Trend, Position Control, and Selection - The Trilogy of Success!!!
Bitcoin's daily chart once again closed with a large bullish candle yesterday, with a 10% increase. The carnival atmosphere has been reignited, and the price is approaching the historical high of 69,000, just a step away from the historical high. Caution is advised for the mere few hundred points.
The moving averages on the four-hour chart are all rising, with a continuous ten-day uptrend. The market continues to move upward along the moving averages, and no turning signal has been observed for the time being. The 5-day moving average provides support at 67,100, and the 10-day moving average is at 65,200 support, currently in a high-level consolidation. The Bollinger Bands are also widely open, indicating an inevitable complete pullback of the chips below. During the day, attention is temporarily focused on the Fibonacci retracement position of 66,100, as recent market trends have all retraced to this position and rebounded with support. The bull market does not indicate a peak, but the price is approaching the historical high, so caution is still needed.
On the hourly level, starting from 61,800, the fourth step has been taken, with a continuous upward trend, and the significant surge last night directly broke out of the upward channel, embarking on a new journey. Pressured by the historical high of 69,400, a brief correction is expected. During the day, it remains to be seen whether the bulls can continue to strive for new milestones.
Today, attention is focused on the historical high of 69,400 as the upper resistance, with the first support at 66,800 and the second support at 66,100. If the market cannot smoothly break through the upper resistance, it will retrace to absorb energy and funds. A significant retracement space is not currently visible.
It's a time for bullish strategies, with a focus on long positions during retracements. Real-time strategies will be provided during the trading session.
Due to the impact of the review process on the article, real-time offline strategies will be the main focus for subsequent intraday adjustments. It is recommended for reference only. Follow my lead in trading, and you can also profit!!! Through wind and rain, Wolong awaits you.
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