We said yesterday that Bitcoin is currently in a descending wedge, which is a bullish pattern. Yesterday, Bitcoin made a short-term breakthrough in the trend line, but it is a false breakthrough at the moment.
The current price has returned to below 65,000, but the price has not yet created a new low. The breakthrough failed but the price did not plummet, indicating that there is still support here. This breakthrough may be an attempt by the bulls. If there is no plummet, then I think the bulls may continue to try to break through, and this pattern is a bullish pattern, so according to the current situation, I think the probability of a successful price breakthrough is still relatively high.
Yesterday we said that we can continue to be bullish if the trend line is broken. In fact, there is not only a descending wedge pattern, but also a 2B pattern. Those who have studied it must know that the formation of the 2B pattern requires the price to break through the trend line and break through a high point ahead.
Of course, there is no problem in entering the market as soon as the trend line is broken. This is also a way of trading. The characteristic of this method is that if you enter the market in advance, the profit will be higher, but the corresponding winning rate will be lower. However, if you wait for the breakthrough of the high point ahead before entering the market, this is a stable entry method. Generally speaking, the winning rate is relatively high, but the corresponding entry will be delayed and the profit will be lower.
If you want to determine better signals and a higher winning rate, your profits will be lower. If you want higher profits, your winning rate will be lower. This is something that you cannot have both in trading. If you want a higher winning rate, your profits will be lower, and if you want a higher profit, your winning rate will be lower. So everyone must choose their own trading method according to their personality style.
Well, the current situation also shows that the MACD is still in a divergent trend. Before the price reaches a lower low, I think there is still a chance for a reversal trend. However, as I said yesterday, it is still in a downward trend. If you want to buy more, I suggest you wait for the two signals I mentioned just now and choose to enter the market according to your own trading method.