Bitcoin trend analysis and operation strategies

After Bitcoin experienced a surge and a fall, it showed a trend of bottoming out and rising again. The daily line finally ended with a spindle positive line with a relatively significant upper shadow line. This upper shadow line fully showed that there is a relatively strong upward trend. selling pressure.

Judging from the trend on the hourly chart, Bitcoin has shown continuous retracement, but these retracement processes are extremely rapid, and it is quickly pulled back after the retracement.

This phenomenon means that the market is adjusting in space according to previous expectations with the help of time cycle adjustments.

As far as the intraday market is concerned, Bitcoin should focus on the test of the key point of 104000 when it falls back. It is expected that the price will have a high probability of finding support at this point without breaking.

With this support, Bitcoin is expected to test 107000 again. If market sentiment rises further, it may break through the 107000 pressure level at any time and launch an impact towards higher prices.

At the operational level, the main trading idea for Bitcoin during the day should be long.

The specific operation recommendation is to enter the market and go long when Bitcoin falls back to 104800, with the target price looking towards 106800.

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