Before we start today's market analysis, let's mention that the delay of Trump's reciprocal tariffs has triggered a small surge in the market.
U.S. stocks also surged nearly 10%, and similarly, the cryptocurrency market followed suit with a significant rise in Bitcoin, leading to a widespread increase.
This validates the saying, "A sudden operation is as fierce as a tiger."
Returning to the Bitcoin market, we will analyze it from a technical perspective. First, let's look at the bottom. As we mentioned yesterday, the immediate focus is definitely around the 74,000 bottom for speculation.
Yesterday's long positions at this bottom also allowed us to achieve significant profits.
Next, we need to pay attention to the upper range of 80,000 to 81,000.
This range, along with the halt of Trump's reciprocal tariffs, has directly led to a breakthrough. Currently, we are focusing on two points. If the price rises above 80,000, we first need to consider whether it can hold above this level after standing on this triangle convergence. Only if it holds above 80,000 can we expect further upward movement.
If it stands above 80,000, we need to closely monitor the pullback situation in the range of 80,000 to 81,000.
If it holds, the price is likely to continue rising. We should then focus on the previous range we discussed, 83,000 to 85,000, specifically the 83,000 to 84,000 range.
This was also a key area to watch in the last round. If the price stands above 83,000 to 84,000, it is possible to break the overall downward trend, and as long as the price holds, a new upward trend may form.
Otherwise, if it cannot break through this level, it is likely to continue consolidating and oscillating in the range of 80,000 to 86,000, forming a bottoming action. If significant news impacts the market and it falls below 80,000, we will still focus on the small double bottom around 74,000 and continue to speculate on long positions.
Currently, this small double bottom is still forming very standardly. As long as this small double bottom does not create a new low, we can speculate on long positions around this double bottom in the short term.
If you feel confused about trading and don't know where to start,
feel free to follow our public account: KK Strategy.
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