BTC Market:
Market Review:
Currently, the price of Bitcoin is hovering at a high level, with the overall retracement space yet to expand. The upward momentum from the recent few days has been relatively strong. After the bottoming out, the retracement space has already shrunk, and there are signs of breaking through the key level of 90,000 in the future. What we need to monitor is the pressure level above. After the previous high has retraced, it has compensated for the significant drop in the previous period, and we will then look at the overall market's consolidation strength at the high-level selling pressure position.
Market Analysis:
From the K-line pattern of the main chart indicators, it can be understood that there is substantial selling volume at 85,000, which is a strong pressure level. The daily price chart has not shown multiple attempts at the bottom, indicating the importance of a renewed push towards 90,000. Therefore, at a larger scale, we need to observe this 90,000 level. If it can break through or stabilize, then 100,000 is not a dream. Looking at the smaller scale, the price chip area around 82,600-82,000 is a relatively strong support level, suggesting to set up a long position trend nearby, following BTC 1207.
Big Cake: Long at the retracement around 83,600-83,400, with a risk control of 600. The target is to look at 84,500-84,800. Then consider whether to short at that position.
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