After touching 35,300 yesterday, Bitcoin came under pressure and pulled back, breaking down continuously. It is currently trading below 34,000. Bitcoin was still on an overall upward trend yesterday. There was a pullback in the evening due to the news, but it finally fluctuated upward all the way.
Looking at the 4-hour chart, consecutive positive lines opened the upward channel, followed by oscillations and accumulation of strength, with a rhythm of pauses at every step. There is no doubt that the trend is still bullish.
From the overall structure, the four-hour gradually recovered within the Bollinger band, and after the volume increased, it would follow the normal repair rhythm, and it would not easily go unilaterally in the short term. When the middle track of the band touches the market, it is expected to rise again, and it will be treated as a shock rhythm in the short term. Combined with the hourly level, the shock range has been given more clearly, and the Bollinger band is shrinking. At present, there is a need for a short-term retracement between the middle tracks.
The general direction at present is to operate on the principle of low-long, but after a big market trend, the market needs to be repaired. Don't chase the rise if you are bullish. There are also high-altitude opportunities in the short term. Everyone should enter the market at a good point, and short sell when each market breaks a high or is approaching a pressure test.
Bitcoin operation suggestion: buy around 33800-33600, target 35000.
