Current Market Analysis

From the daily level perspective, Bitcoin formed a doji yesterday, indicating that the bullish trend remains strong, but the selling pressure at the hundred thousand level still needs time to be gradually digested. From the 4-hour level view, the MA5 moving average has overlapped, and continuous doji candles are forming, indicating significant divergence between the bulls and bears in the market. If the support is broken, it will test the support level of the 4-hour MA30 moving average. Therefore, under the bullish trend, it is recommended to wait for a pullback before making long positions.

Operational Suggestions

When the price pulls back to the range of 98388-98000, one can initiate the first long position, and add to the position at 97350, with a stop-loss set at 96900, and target around 99450.

Observation of Adding Positions and Support

The market pullback accurately hit our adding position near 97350, and I also added to my position at 97388. Currently, the average entry price has risen to 97700. Tonight, we need to focus on whether the support level of 97200 can hold. If it holds, there is hope for a new high or breaking the previous high; if it does not hold, it may test around 95000.

If anyone has questions or suggestions, feel free to leave a comment or contact me through my profile. Thank you all for your attention and likes! 🙏