Early Review: Bitcoin skyrocketed as planned, approaching a historical high. Will it crash back down or continue to break through?
In previous articles, Lin Mu Yang has mentioned countless times that we cannot be bearish on Bitcoin as long as it doesn't break below the two key levels of 66500 and 67100. As long as it stays above these levels, there is no need to worry about a downward trend reversal. Currently, Bitcoin is strongly breaking through $70,000 as planned, completing this bat pattern, and the price has already broken through the top of the right shoulder of the bat pattern.
I have mentioned multiple times before that Bitcoin will surge. Last week's pullback was a good opportunity to buy low. Yesterday, I mentioned that Bitcoin is about to form a golden cross signal, and I still hold this view. Once the long-term cycle forms a golden cross, Bitcoin will surely start another bull market, breaking through historical highs!
On the 4H level, we can see that since around 58000 on October 1, it has entered a range. The first breakout of the upper channel occurred on October 7, followed by a pullback. The second breakout from October 11 started to rise again, breaking through the upper channel, which completely aligns with the previous analysis by Mu Yang that there would be a change in trend from September 25 to October 10. When it began to break through the upper channel on October 10, I once again reminded that Bitcoin is about to surge, thus forming a bat pattern, and it has now broken through the top of the right shoulder, everything is going according to plan!
If you have been following Lin Mu Yang's content, I believe you have gained a lot, including from the compilation I put a lot of effort into (How to Cultivate Chives), which should teach you many practical knowledge! If you don't understand the professional knowledge, then what I mentioned about Dogecoin (DOGE) should also be very rewarding for you!
Today's Bitcoin: 71997 at the hourly level resistance, daily resistance at 72797! Continue to hold the intraday position!
ETH: Entered the intraday position at 2500 yesterday, continue to hold! The 4H level has stabilized, daily K level at 2750 major resistance!
Note: Lao Lin's daily content is just for general guidance; specific and precise layouts need to be decided in real-time based on market changes! If you still cannot grasp the market, please carefully read my compilation (How to Cultivate Chives). I will continue to create and provide high-quality cryptocurrency content for everyone!
