Bitcoin's intraday high surged from the 99950 line before retracing, while the lowest point has currently pulled back to the 95153 line. This wave has indeed liquidated a lot of bulls; are the bottom-fishers stirring again?
Bitcoin let everyone short at 99200 and 99700 the day before yesterday, and yesterday also continued to remind to hold steady. Have the shorts held on? Or have they already run away?
The daily K chart shows a downward channel, under pressure from the middle band. On the 4-hour chart, the upper band is under pressure, and the price has yet to stop falling after breaking below the middle band. The MACD green momentum bars have begun to expand, and the KDJ has crossed downwards, continuing to decline. Although the hourly chart has closed two small bullish candles and the KDJ has formed a golden cross upwards, entering at this point may be premature. It's better to wait for a large bullish candle on the 4-hour chart, especially since this wave came down with three large bearish candles.
In the evening, maintain the short position in Bitcoin. For those holding short positions at 99200 and 99700, continue to hold. The second target remains at 94500 and the third target at 92500. To enter for a long position at the bottom, wait for a large bullish candle on the 4-hour chart before entering. There’s no need to rush into bottom-fishing; the bull market hasn’t ended, it's just that the recent market is experiencing a lot of wash trading, moving up and down severely. If you jump in to bottom-fish before it hits the right level, it could be painful later on. Once the market goes above 100,000, breaking through 110,000 is inevitable. The bull market has never ended, and it's not yet time to bottom-fish for longs!
