$BTC Evening Viewpoint:
The pullback has ended, and it's time for the big rise, so let’s go up strongly. There’s no reason for Bitcoin to pull back; it will continue to rise until you are too scared to short it, and then it will drop.
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Let the chart do the talking: On the hourly chart, Bitcoin is currently trying to break and hold the 61.8 level on the Fibonacci retracement. Once it breaks and holds, it is very likely to challenge the previous high or even set a new high.
If you followed my Bitcoin viewpoint from this afternoon, the positions indicated by the yellow arrows are where you should reduce your long positions; don’t be too greedy. Take it one bite at a time, and take things one at a time.
If Bitcoin breaks through 94777 with volume, you can chase the long position on the right side. Bold traders can jump in, while cautious ones should realize that in this era, the bold thrive and the timid starve.
If it breaks down to 94605 with volume and bounces back without recovering, short on the right side; take the pullback and watch for changes in volume, and set your stop-loss well.
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As long as Bitcoin breaks and holds 95169 on the hourly chart, look directly up at the target positions of 95692-96156.
If it drops below 93854 on the 4-hour chart, it will need to retest 92927-91957.
Hopefully, the US stock market can continue to rise tonight; otherwise, Bitcoin won’t be able to break through the key position again and again, and the strength of the bulls will eventually be exhausted. Meeting adjourned.
