Bitcoin Market Analysis: Key Levels and Trading Strategies
Currently, the price of Bitcoin is fluctuating around $105,000. The market shows that around 6 AM today, trading volume significantly increased, indicating strong bullish momentum. Subsequently, the price surged to around $106,000, after which the trading volume gradually declined, and the market entered a consolidation phase.
From a technical perspective, there is a short-term need for a pullback in Bitcoin, with key support located around $104,000. If the price pulls back to this range, while Ethereum simultaneously tests the support range of $2355-2365, one could consider a small long position. If the price oscillates downward to this area during the day, positions can be gradually built; if the price stabilizes in the evening and profits are substantial, it is recommended to set a trailing stop to mitigate volatility risk.
Currently, opening a short position is not advised, based on the following two points:
Trend Continuity: Yesterday, Bitcoin strongly surged from $99,000 by 7,000 points to $106,000 and is currently still in a bullish consolidation phase, making the risk of shorting against the trend quite high;
Support Validity: The price has formed short-term support in the range of $104,800-$105,000, and if it stabilizes, it may continue to rise.
Intraday Operation Recommendations:
Long Entry: Lightly test long positions near $104,000, with a stop loss around $103,000-$102,800;
Risk Control Principle: Adjust the stop loss in a timely manner after achieving profit to lock in gains and avoid retracement due to overnight volatility.
It should be noted that the above analysis is based on short-term technical structure, and investors should flexibly respond in conjunction with real-time data and their own risk preference.
#加密市场反弹 #鲍威尔半年度货币政策证词