Bitcoin has pulled back 5%. Is the rise over? At what price points are there still buying opportunities?

I personally think this is a normal pullback. Even if it is not affected by the decline in the global financial market, Bitcoin has touched the upper track of the Bollinger Band on the daily chart. Coupled with the resistance near the historical highest price, a unilateral rise without a pullback is almost impossible, not to mention that there is still relatively little money in the market.

So don't be too pessimistic. Most of the harvest is high-leverage bulls. For long-term traders and the general direction, I am still bullish at the current price.

On the daily chart of Bitcoin, the first wave of rise on October 20 failed to break through 70,000 US dollars because the K line touched the upper track of the Bollinger Band at that time. When the second wave of rise occurred on October 27, the price of the upper track of the Bollinger Band rose, leaving more room for rise.

The large time level is magnified from the small time level.

At present, on the monthly chart of Bitcoin, like the daily level trend, it is ushering in the "second wave of rise", and it is likely to rise to the upper track of the Bollinger Band, with a price of about 80,000 US dollars.

Therefore, I think the short-term correction is a good thing, which provides an opportunity to buy on dips. As for various negative news, I think most of them are panic-induced, and panic-induced market crashes will rebound.

Refer to $68,000-69,000, Bitcoin has strong support at this price.