The strategy of looking at the retracement first and then looking at the long position at midnight successfully achieved profit-taking. Last night, the exchange rate broke through 65,000 at its highest. Although there was a retracement, the force was small. This morning, it broke through the 65,000 mark again, and the upper pressure has been completely lost. The daily chart shows five consecutive positive lines, and every day this week has closed with a positive line, and every day is setting a new high.
From the current hourly level, the exchange rate is still in a bull market. However, the key lies in whether the exchange rate can break through and stabilize in the high area above 65,000 to form a top-bottom conversion. According to the current structure of the four-hour line, Bitcoin is rising in a step-by-step manner, but the bears are beginning to fall back. The KDJ indicator line has formed a dead cross. At present, you can wait for Bitcoin to step back to a low level in the morning, and then carry out bottom-fishing operations, and you should not blindly chase high. Before the exchange rate fails to effectively stabilize or break through the weekly K middle track area, the upper pressure has disappeared. The current exchange rate is above 65,000, and it may be a bit impulsive to chase long at this time. You can first carry out short-term operations, and then stabilize long positions. For those who cannot grasp the short position, it is recommended to wait for the retracement before going long.
Bitcoin can be long at 65200-64900; the target is around 66600; Ethereum can be long at 3430-3400, and the target can be 3570.
