Morning Review: Bitcoin returned to 68000 last night. As long as it stabilizes above 67100, it is expected to continue to push towards new highs!#BTC☀
The day before yesterday, after Bitcoin dipped, it has now rebounded above the key position. In the previous two days' articles, Lin Mu Yang mentioned that we only need to focus on two key positions. As long as we do not break below these two key support levels, we cannot immediately look for a trend reversal. From the current chart, it can be seen that Bitcoin formed a long lower shadow before violently pulling back to its original position. The battle between bulls and bears is exceptionally fierce. Many people wake up to find that Bitcoin's price hasn't changed, but their positions are gone. Whether trading bullish or bearish, it is tough in such a market because there is a space of 3500 points between the ups and downs. Calculating with 100X leverage, 3500 is nearly 6 times. Most positions can no longer withstand that.
Yesterday, Bitcoin directly rebounded to a key position and has maintained above 67100. The market trend is in line with my expectations, so there is hope for a continued break above 70,000.
In the larger cycle, there are still 3 days until the close. As long as we close above the upper boundary of the fluctuation channel, we still expect a bullish trend!
On the daily K chart, the current Bitcoin price is running above the middle band of the Bollinger Bands. According to the adjustment cycle, Bitcoin should establish a trend in this critical area. The high point of this key area in the white box is 70400, so from a larger cycle perspective, the current trend is still very healthy. After this pullback, there should be greater momentum.
It is worth noting: in such a volatile market, it is advisable to remain cautious. If you are an aggressive player, the direction should primarily focus on buying at lower levels, which means following the trend. This has been confirmed countless times in Lin's assessments. In yesterday's market analysis, I also reminded everyone not to trade recklessly and instructed our members to buy at lower levels, and last night, they all exited the market profitably.
Today's Bitcoin: Looking at the 4H chart, if it doesn't break 67248, it can be entered! ETH: In recent days, it has not been following Bitcoin. Yesterday, as Bitcoin recovered lost ground, ETH has not risen but instead fallen. ETH needs further observation. This is not the most suitable time to enter!
