From the market situation, the weekend trend has successfully formed a bottom after adjusting and probing the low in the midnight session.
In terms of the four-hour structure, the previous breakdown of the lower boundary has now been repaired, and the overall market still shows a strong trend. The overall trend remains bullish, and the target of hitting 100,000 is still expected to be achieved.
From the perspective of the short cycle, the cryptocurrency price is showing a strong upward trend, and the bearish strength has obviously weakened. However, it is still necessary to pay attention to the possibility of slight short-term pullbacks, and everyone should not be too anxious.
Looking at the current structure, within the short cycle, the price entered an adjustment trend after a surge and subsequent decline. As it stands, it is adjusting through price correction, and the retracement is limited. This correction can also be understood as a means of accumulation by the bulls, as the price space above is relatively sufficient. As long as the price does not experience a deep retracement in the short term or a continuous reverse operation, it does not constitute a trend reversal. For the subsequent trend, we can still view it as accumulation, and once this trend is completed, the price will welcome another rise. At the beginning of this week, we remain bullish on the bulls breaking the previous high.
Morning operation suggestion:
Bitcoin (BTC): You can go long in the area of 97,000 - 97,500, with target prices looking towards 99,000 - 99,500.
