1/7 BTC Market Analysis

--- Trading Principle: Follow the Trend

The market continues to be sluggish, with both trading volume and volatility weakening. There are few market hotspots and narratives, primarily due to the insufficient profit-making effect in the cryptocurrency space. Apart from Bitcoin, altcoins remain just that—altcoins.

After stabilizing at 99000 yesterday, we abandoned the bearish outlook and turned bullish, ultimately achieving a profit of 3000 points, catching up with the long-awaited trending market. Congratulations to those who followed along!!

What’s the next step?

First, in terms of trend, the mid-term level has completed the market correction and has returned to an upward trend. Combined with the significant surge in both momentum and volume yesterday, we believe it is an effective breakout. The level of 99000-100000 has shifted from resistance to support, meaning that it is not easy to short above 100000.

Upper resistance to watch is 103000-105000. The bulls are trying to test the upper supply zone in the morning. To break through this range, we still need to build strength.

Lower support to watch is 99000-100000, supported by yesterday's volume and momentum. The support in this range is strong; we should not consider shorting until it breaks.

The strategy is primarily to buy on dips, with low risk and clear exit standards. Do not easily chase after rising prices or panic sell.

In terms of operations:

Enter 30% of the position at 100500, enter 70% to add to the position at 99500, and exit the bulls if the 4-hour level closes below 99000.