Bitcoin breaks the position to find an opportunity to enter the market, which is the way to victory.
Yesterday's practical record has been synchronized. After clearing the position, the market has not yet shown ideal trend entry signals. During this period, one must patiently wait for clear opportunities and signals, quietly waiting for the best entry point to appear. Remember to plan your trades, trade your plans, and ensure that there is no deviation in trade execution. Congratulations to everyone for successfully achieving the goal of doubling your investment!
As of 5:30 AM Beijing time, the current price of Bitcoin is around 901100. Yesterday's market saw a wave of intraday upward movement, with prices climbing from the 89000 line to 92000. Although the increase was limited, it still completed a phase of rebound. This is a clearly characterized false short squeeze market, which experienced investors in the cryptocurrency space are likely to identify accurately. The current market is oscillating near the 90,000 mark, and there are significant operational risks whether it breaks down or breaks up from this level. It is recommended to wait for clear market direction before making any moves.
From the daily candlestick perspective, before the publication, the price reached a maximum of 92260 and a minimum of 89550. Trend indicators continue to contract, with the fast and slow lines gradually converging, indicating that the market will enter a stage of convergence and consolidation, with the consolidation period expected to last at least a week. The upper resistance to watch is the EMA30 trend line at 93300, while the lower support looks towards the golden ratio level of 85500. The MACD indicator has been continuously increasing but remains at a neutral state, with the DIF and DEA lines expanding upwards, yet still some distance from the zero axis. Overall, the market presents a horizontal contraction pattern after a bottom divergence, with the Bollinger Bands also closing, the upper pressure level at 94050 and the lower support level at 84500, while the current candlestick is running above the middle track of the Bollinger Band at 89300, indicating that the main funds are still brewing directional choices.
The horizontal characteristics of the four-hour level trend are more pronounced. The EMA series trend indicators are also in a contracting state, with the EMA120 forming a short-term pressure level at 91450 and the EMA15 below providing support at 90460. MACD's volume release is weak, with the DIF and DEA lines running horizontally near the zero axis, and the Bollinger Bands are also closing, with the upper pressure at 91640 and the lower support at 88400. To grasp the entry opportunity at the minimal trading cost, the optimal strategy is to decisively act after the pressure or support level effectively breaks, and it is currently recommended to remain on the sidelines.
