🔥🔥🔥7-1 Bitcoin In-depth Analysis
🌕 Big Pancake Monthly Line Opening
Today, Big Pancake (Bitcoin) opened a new chapter of the monthly line. On Monday, it broke through the previous high of 625. From the perspective of the monthly line, Big Pancake has been fluctuating in the high range of 730-600 for a full four months. The battle between the long army and the short army is as stalemate as tug-of-war, but Big Pancake seems to prefer to consolidate leisurely in this range.
📈 Futures Perspective
From the perspective of the Bitcoin futures market, on Monday, Big Pancake left a gap between 620-605. But I personally do not tend to short to fill this gap. Because Big Pancake has shown a double breakthrough trend of breaking through the trend line + previous high, if there is a chance to fill this gap later, I will not hesitate to join the long camp. This is my bullish belief.
🕰️ 2-hour K-line interpretation
On the 2-hour K-line chart, Bitcoin cleverly constructed a M-top false breakout pattern. This kind of pattern often attracts the air force to enter the market, but the market often reverses, catching the air force off guard. In the short term, the short-selling focus above Bitcoin is 645, and this position deserves our close attention.
🔍 Outlook under a larger time frame
When we zoom in on the time frame and observe from a larger time frame, the Fibonacci 0.618 position is around 668. This position is also the key point where the bottom support of the previous large range consolidation cycle turns into pressure. Once Bitcoin touches this position, a retracement may occur again. At that time, we will need to observe market dynamics more carefully.
In short, the market performance of Bitcoin is full of variables and opportunities. In trading, we need to remain calm and analyze rationally to find our own opportunities in the market fluctuations.
#BTC☀ #BTC走勢分析
