Is the opportunity to go long on BTC here? It is indeed worth a try!
First of all, let’s review that in the 4H level, the price broke through the iconic location of 59k, then consolidated and stood back, starting a wave of pull-ups to 72k. Now it has broken through 64.5k again and then pulled back above 64.5k. It seems a bit like history repeating itself, and MACD seems to be starting to diverge.
At the 1H level, it can be seen that although the shorts dominate the price, the volume of the shorts is obviously shrinking, and 64.5k plays a pivotal role. It can be seen that the first contact produced a rebound, and after breaking through, it pulled back strongly and stepped back again. And as a landmark AR low point, the price stood back after the false break. In any case, it is a price position worth trying.
From the perspective of the shorts, the first profit target of 64.5k has been reached. Shorts can still try to fill the gap below and the potential 0.618 retracement, which is around 63k. It is meaningless for shorts to enter at this time. The profit-loss ratio is not good enough. Shorts should move the defensive stop loss above 66.5k.
From the perspective of the longs, the iconic 64.5k breakout is a moment worth trying to intervene anyway, but the longs are not obvious enough at present. If the price can break through 67.3k and slowly fall back, the short pattern will be broken for the first time. Furious bulls can go long at the current price. Aggressive bulls need to wait for the decline to stabilize before entering on the right. Conservative bulls need to wait for the breakthrough of 67.3k before entering on the right. The standard stop loss is below 64k. If the price falls back to around 63k and there are signs of stabilization, this is the position to cover the position, or it is an opportunity for conservative bulls to enter on the right.
I don't like watching the market, I prefer the left-side trading strategy, the trading strategy is time-sensitive, all comments do not constitute any investment advice, I wish you all good luck~