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First, look at the daily line of Bitcoin:
Breakthrough at key support for the rise. As mentioned a few days ago, buying near 947-933, now you can move the stop loss up to around 972. The bears have no way out, and with a strong breakthrough at night, I hope you didn’t place a short order at 977.
This wave of increase announces the end of the daily line pullback and may break new highs (just a possibility). Of course, the pressure points between 990 and 996 still exist, and only a breakthrough may lead to an increase.
Let’s check for trading opportunities on a smaller scale:
There is a key support around 978. As long as it doesn't break, the upward trend continues. If it breaks, it will return to the oscillation range.
Now from a smaller scale, the pressure at 990 is effective. Will we see a weekly double top? Let's wait and see. (The only hope for the bears)
Today's Bitcoin real-time thinking:
Long: Observe the support situation at 978 to go long, continue to observe the breakthrough situation above 990-996. Remember, the reason for going long now is to gamble on the possibility of breaking new highs in the future. It's actually not suitable to go long at the current price; it was dangerous to not buy at 940 and now to buy. But to not miss the opportunity for a potential breakthrough, we gamble on long orders near 978. Remember to strictly set a stop loss at 972.
Empty: Observe the pressure situation between 990 and 996. If it doesn't match, withdraw. There are targets of 100400 and 104000 above on a larger scale (weekly, monthly), so be cautious. No shorting without a breakthrough, or stop loss at 100100.
It’s also possible that there is a spike followed by a pullback (the operators deliberately raise prices to sell). If 978 does not hold, be very cautious. If it falls back to the oscillation range again, the next time it breaks 947 essentially announces the end of the bullish trend, and the probability of entering a larger scale pullback is very high.
Pay attention to the time: The 6th and 7th are very likely to see a trend change.
Today’s trading thought analysis is complete. How do the esteemed viewers feel? You can exchange and discuss in the comments section. This is your little Bai who loves you, providing daily free random analysis (heart emoji).
