Bitcoin bulls have rekindled hope.
Market review, the price fell after the pullback to 69.2k, stepped on the vicinity of 66k and rebounded, and now it has returned to 69.2k.
Pay attention to several positions. The POC of the consolidation zone above 69k is about 70k. It has not been tested yet. An upward channel can be drawn on the extreme left side. The overlap position of the upper edge of the channel and the downward trend line of the large time period is worth noting, which is about 70k-70.5k, and there is also a 1H level gap here. The VAH below happens to be the trading concentration area that breaks through the consolidation zone of 69.2k.
From the perspective of bulls, it is very important to stand back to 69.2k, which means that there is a possibility of a daily short trap below. Violent bulls can go long at the current price. If the price falls back below 69.2k, you can try to place a long order on the left near the junction of VAH and the rising channel below, which is about 67.7k. Conservative bulls can enter on the right here with a stop loss of 66k.
From the perspective of bears, it seems not very ideal to stand back to 69.2k, but pay attention to the short-selling opportunities near 70.5k. There is an expectation of filling the gap here, and the downward trend line near the top of the rising channel and the large time period is suppressed. Violent bears can place a ladder short order on the left above 70k, and aggressive bears can place a ladder short order on the left above 70.5k. Conservative bears cut in on the right after a false breakthrough here, and the standard stop loss is above 72k.
I personally don't like watching the market, I prefer left-side trading strategies, trading strategies are time-sensitive, all comments do not constitute any investment advice, I wish you all good luck~
Regarding copying orders, I would like to remind you again that I am a low-frequency trader, I need to have enough patience, and I may open a reverse order. If the total investment amount of copying orders is too small, it is meaningless.
