Bitcoin Market Analysis
The current trend of Bitcoin resembles a tightly stretched rope, and the risk is gradually approaching ⚠️.
Do not blindly chase high prices, and definitely do not short at this time. If there is an extreme surge, it is recommended to take profits in stages.
【Daily Level】
1) The rating of 1 given last Friday was accurate, successfully rising by $7,000 ✅.
2) The current price is close to the upper edge of the channel, with resistance levels at $108,900 and $110,304 (weekly target).
3) On the daily chart, the price is still pushing against divergence; the MACD has formed a golden cross above the zero line, but the divergence phenomenon still exists and a reversal may occur at any time.
4) After breaking through the MA30 line, there have been four pullbacks; too many moving average pullbacks could lead to a breakdown of support if another pullback occurs.
【4-Hour Level】
On the 4-hour level, the price pulled back to the previous high before surging again yesterday, reaching a maximum of $107,777. Such operations are considered high-risk trades, lacking effective stop-loss points, and the risk-reward ratio is also very poor. Therefore, there have been no trading operations in the past few days.
The current upper resistance levels remain at $108,900 and $110,304, while the lower support levels are at $99,200, $101,300, as well as $94,100 and $96,500.
Summary:
Currently, Bitcoin is at a relatively dangerous price level, and investors should remain cautious, avoiding high chasing or blind shorting. If there is a short-term pullback or breakout, closely monitor the changes in support and resistance levels, and adjust trading strategies flexibly.
