Wednesday morning, Bitcoin analysis and trading suggestions!
Bitcoin made another effort in the early morning, rebounding to a high of 73660, then briefly dipping below 72000 before being pulled back up. It has now returned to around 72500, oscillating. The daily chart shows a strong increase with four consecutive bullish candles, steadily rising and rebounding. Yesterday was mostly a consolidation day instead of a pullback correction. After continuous consolidation, a new high was reached, with an overnight high followed by a pullback, but the space and structure are insufficient to change the current strong momentum. The pullback is just seen as a local correction unless there is a further shallow pullback today and closes at a low position, which could alter the structural pattern.
Looking at the four-hour chart, the upward structure is maintained, and the local correction is aimed at building momentum for further highs. The upward structure remains good. The main strategy is to guard against pullbacks using the upward trend line while maintaining a low long position. In a strong market, go with the trend. With increased volatility, operational adjustments should be made accordingly, entering with light positions in batches, and slightly widening the stop loss to avoid missing key points.
Morning BTC short-term operation: Buy in the 71800-72300 region on a pullback, with a target of 73500-74000.
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