Analysis of Bitcoin market on Tuesday, $BTC !
On Monday, in this market, many participants probably faced a tough situation, with a washing out of emotions, aggressively hitting the shorts, and not much to say. Therefore, at any time, it is essential to adhere to operational principles and maintain a respectful attitude towards the market as the foundation of our path!
On Monday, after a weak decline in the morning, I mentioned to you that I expected to see a bullish trend, expecting a rebound, but I didn't think it would happen so quickly. By the evening, it reached 107,000, and the speed and strength were astonishing, marking a 4,000 increase! Once it fluctuates, it could vanish into thin air!
Currently, the thought process in the early morning is to prepare for a pullback; do not let Monday's single bullish candle affect your subjective thinking. The pressure is concentrated at 107,500, and then at 108,700, with support at 103,500. The timing is all during the early morning washout, so try to keep your trades in the later half. If you want to make moves in the early morning, play short-term and short at high positions!
BTC: Short in the 107,500-108,000 area, target 105,000-104,000
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