Merry Christmas! After the US market opened yesterday, Bitcoin started to rebound, reaching a high of around 994. After reaching this position, there are still people looking bearish at 850-830. I don't know if you have blocked these people.
Today, many people are likely trapped around 960-950. For these individuals, I suggest reducing positions when there is a pullback, and exiting when necessary. Don't just follow the trend blindly, especially not to expect breaking below 90,000. From the four-hour chart, Bitcoin is trying to test the resistance at 995 again. If the four-hour chart continues the strong upward trend, then the pullback should not break the support of 973-965. Since the US market closed early yesterday and today is Christmas with the US market closed for a day, the collective trend cannot be used as a reference; we will specifically look at tomorrow's overall trend.
Even if there is a drop, it can only indicate that the downward trend is temporarily not too strong and will not continue for long. When the time comes, those trapped should exit. Today, we are still focusing on a conservative strategy, with current prices fluctuating around 980. We will be looking to enter positions at the lower levels of 976-968, in this oscillating market. Today, the focus for short-term trades is on the upside, aiming for 1,000.
Additionally, regarding a previous piece of news, in the past 5 years, there have been 4 instances of increases and 1 instance of a decrease after Christmas. There’s no need to overly worry about whether this year will end flat or decline. Any data is influenced by macroeconomic factors and various news events; all you need to know is that Trump will never let you down.
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