Bitcoin daily line belongs to the upward trend, and there is no obvious reversal signal at present, but it has come to the upper pressure range, and the probability of the next shock is relatively high, based on the following:
1. On October 10, the market stopped falling, and the reversal signal Morning Star pattern appeared, and the market ushered in this wave of rise.
2. On October 14, a large positive line with large volume broke through the upper part of the shock range, indicating that the long army is strong.
3. Although the price broke through the previous high yesterday, the K-line entity column is gradually shrinking, and the K-line with an upper shadow line is closed, indicating that there is pressure above.
4. According to the principle of acute conversion, after the pressure position is broken, a support level will be formed.
Therefore, the probability of the next shock at the daily level will be relatively high, and it will oscillate in the range of 65,000 US dollars to 70,000 US dollars.
After the market enters the shock trend, we need to analyze and judge the strength of the long and short positions based on the long and short trends in the shock range, and use clues to conclude whether it will break upward or downward in the end.
If the bulls are stronger than the bears in the oscillation range, then a direct breakthrough of $70,000 is just around the corner, and vice versa.
