Bitcoin's trend on Monday is a mystery! Will it continue to rise or will it pull back to accumulate momentum?
Daily chart (D1) perspective: After some adjustments, which pulled the price down to the area around $62,000, Bitcoin (BTC) ushered in a strong rise of $2,000 this morning, reaching around $64,500. At present, the candlestick pattern on the daily chart is quite beautiful. If it can successfully hold the $64,000 mark, BTC will officially enter the upward channel.
Four-hour chart (D4) perspective: The four-hour chart will end tomorrow, and the current candlestick pattern is also quite impressive. However, some of the indicators I use have sent out relatively strong bearish signals, and BTC seems to be facing considerable downward pressure.
Weekly chart (W1) perspective: The weekly chart also performs well. The BTC price is almost the same as the peak of last week's candlestick chart, also around $64,500. Therefore, the $64,500 area may become the apex of this week's candlestick chart.
Personal opinion:
Yesterday I accurately predicted that BTC would fall overnight, and BTC did fall from $63,000 to around $62,000. However, I expected it to fall to the $60,000-61,000 range, so I failed to take profits in time, and now my losses have increased.
Losses may be unacceptable to some people, but I have experienced worse situations than this, so I don't care. The most important thing now is to focus on BTC trend analysis and stay calm and rational.
Although BTC's current candlestick pattern is quite impressive, some of the indicators I trust continue to point downward, suggesting that BTC may fall to the $60,000-61,000 range, or even lower.
I often suffer order losses, but most of them are due to psychological fluctuations and expectations of long-term profits. As for indicator-based BTC evaluation, I don't rely too much on it. Therefore, I will continue to wait patiently and observe market trends.
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Recently, I am planning to ambush a potential coin that is ready to explode. It is still very easy to double it. At the same time, I am also preparing to find some potential coins to hold by the end of the year. It is expected that there will be no problem with more than 10 times the space. If you want to keep up, pay attention and share for free.
