3.26 Bitcoin breaks through and rises! Prices are about to hit new highs!
Bitcoin was following a very standard triangle convergence pattern yesterday. We believe that if the price breaks through this triangle, it will most likely start an upward trend. It is expected that there may be another opportunity for a correction, but the price directly broke through in the evening. The price of 70,000, which stood directly above 70,600, has now encountered resistance near 70,600, and the small level has begun to show a trend of correction and shock.
Now looking at the large-scale market trends, we can clearly find that Bitcoin is on a correction and shock trend as I said before, and will continue to continue its previous upward trend. The price is actually not very far from the previous high. , then the next wave target is the previous high point, and it is very likely to continue to hit new highs.
If you want to continue chasing the long side now, you have to observe the short-term situation. It is expected that the price may now follow a concussive upward trend, that is, it may go up a channel, and then if the price can break through the channel upward, then the price There is a high probability of starting a skyrocketing trend.
Then I think the key lower support point is around 68800. If this place falls below, then this wave can only be regarded as a rebound trend, not a breakthrough upward. After that, the price will continue to fluctuate.
Then be more prudent and chase long now, that is, continue to wait for the price to return to the support position below, or wait for further confirmation of the upward channel, and then enter the market at the bottom of the channel.
These two methods are very stable methods, and they may short-circuit the market. Because the price has confirmed support or verified the pattern many times, the winning rate is generally very high, but in fact it is not without shortcomings, that is, relatively speaking It is said that there are few opportunities to enter the market and you will often miss out!
The opposite is a radical entry method without multiple verifications of support or pattern. In this method, there are many trading opportunities, that is, you can often enter the market, but the winning rate is definitely lower than that of a stable entry method.
As long as you have been trading for a long time and carefully review and summarize your own trading methods, you will be able to draw such a conclusion!
