Bitcoin Market Analysis

Bitcoin broke through $52,000 this week, reclaiming a market value of over $1 trillion for the first time since December 2021. Additionally, spot Bitcoin ETFs attracted nearly $500 million in net daily inflows, with Bitcoin rising 22% over the past month.

Chart Trend

Currently, the retracement trend of the 1-hour movement is not expected to pull back significantly. There's a high probability of further highs ahead, not far from my personal target of 53,000. I'll patiently wait for the end of this 1-hour retracement, expecting a new upward movement afterward. The overall upward trend is very strong, making it unlikely for a significant downturn in the short term.

Trading Tips

Range trading strategy: In most cases, the market operates within a range-bound pattern. During market oscillations, buying low within the range and selling high can be the most fundamental method to stabilize profits. The indicators used include Bollinger Bands and box theory. The key to success lies. in identifying resistance and support levels based on various technical indicators and patterns. #Write2Earn #TrendingTopic #PIXEL #WLD #Sei