October 31, Thursday Bitcoin Morning Market Analysis
Yesterday, the overall trend of Bitcoin was still oscillating. After the price surged and then retreated, it did not continue to fall sharply but instead maintained an oscillating sentiment for consolidation!
Currently, the major structure of the trend has not changed. The recent pullback is merely a preparation for upward momentum!
In terms of the current short-term strategy, on the four-hour level, the price was influenced by news and showed a series of bearish candles. Fortunately, it was ultimately reclaimed by a strong bullish candle, indicating that the current sentiment is still quite strong. However, as the trading volume gradually decreases, there will still be a demand for pullbacks in the short term. The overall trend has not changed, so the strategy should focus on positioning for long trades around the pullback lows!
Morning trading strategy:
Long Bitcoin in the 72200-71700 range, targeting 73000-73500
