Short-term indicators for various cryptocurrencies have shown overbought signals, indicating a need for a pullback! ! !
We cannot ignore two situations, Bitcoin has no resistance level to the upside.
So the first situation is as mentioned initially, watch the hourly trend line; if it breaks below this trend line, take short-term profit and exit.
The other situation is that it continues to maintain an upward momentum for a bit longer.
At this time, we can only try to find some potential positions, like around 78800 dollars where we need to gradually take profits.
For pullbacks, there are some potential pullback positions.
I have drawn several potential pullback positions based on the replenishment theory.
Here we also have a support level at 73800 dollars, and then around 72600 dollars, 70200 dollars, and finally the defensive position near 69300 dollars.
Here we mainly look at where Bitcoin can hold.
Because the replenishment theory applies in most cases, sometimes there may not be a replenishment.
So there's no need to get tangled up in this; for the short term, focus on the hourly trend line and the level above 78800 dollars.
Altcoins to watch: doge, pepe, neiro.
The key point is:
Become my fan to find me, I will guide and protect you.
Next, the big player will lead the fans to layout several key strategies.
Stop being a headless fly buzzing around; if you don't want to invest in Bitcoin and want to bet on altcoins for several times the return, but don't know which coin to buy, observe the main trends and follow my layout for the entire bull market!!!
