Morning Review: Bitcoin returned to 68000 points last night. As long as it remains above 67100, there is hope to continue pushing towards higher points!#BTC☀
The day before yesterday, after Bitcoin dipped, it has now risen back above the key level. In the articles from the previous two days, Lin Mu Yang mentioned that we only need to focus on two key positions. As long as these two critical support levels are not broken, we cannot immediately see a trend reversal. From the current chart, we can see that Bitcoin formed a long lower shadow before violently pulling back to its original position. The competition between bulls and bears is exceptionally fierce. Many people woke up to find that the price of Bitcoin had not changed, but their positions had disappeared. Whether buying or shorting in such a market is uncomfortable because the space between the up and down spikes is a full 3500 points. Calculating with 100X, 3500 is almost 6 times, and general positions can hardly withstand it.
Yesterday during the day, Bitcoin directly pulled back to the key level and maintained above the critical level of 67100. The market trend aligns with my expectations, so there is hope for it to break above 70,000 in the future.
In the long-term cycle, there are still 3 days until the closing. As long as it closes above the upper boundary of the oscillation channel, we are still looking at a bullish trend!
On the daily chart, the current Bitcoin price is operating above the middle line of the Bollinger Bands. Based on the adjustment cycle, Bitcoin should establish a running trend in this key area. The high point in the white box of this key area is 70400, so from a long-term perspective, the current trend is still very healthy, and after this pullback, there should be greater momentum.
It is worth noting that in such a fiercely contested market, it is advisable to remain cautious. If you are an aggressive player, the direction should primarily focus on buying at lower levels, thereby following the trend. This has been confirmed countless times in the analysis of the old forest. In yesterday’s market analysis, I also advised everyone not to act impulsively and indicated that our members were to buy at lower levels. Last night, they all exited profitably.
Today's Bitcoin: If the 67248 line is not broken on the 4H chart, it can be entered! ETH: In recent days, it has not been following Bitcoin. After Bitcoin recovered its losses yesterday, ETH has not only failed to rise but has declined instead. ETH needs further observation. Currently, it is not the most suitable time to enter!
