The bullish butterfly of the bulls perfectly overlaps 0.618
Looking back at the market, the price has been pulled back since 59k, hunting the most bullish stop loss, and has been to the upper edge of the channel. After a false breakout, it continued to fall back into the channel. From the perspective of horizontal consolidation, the 59k break should also complete a breakthrough at the previous historical high.
Pay special attention to the potential bullish butterfly, whose position of 1.272 almost perfectly overlaps the 0.618 retracement since the false breakout of 59k, and the area also overlaps the central axis of the channel, about 62.5k.
So for the shorts, the first stop profit position is 62.5k, and the second stop profit position can consider the bottom of the channel. For the bulls, 62.5k is the most suitable position to get on the bus.
I don't like watching the market, I prefer the left-side trading strategy, the trading strategy is time-sensitive, all comments do not constitute any investment advice, I wish you all good luck~
