During the two-day fluctuation over the weekend, Bitcoin has digested the indicators from the previous incremental rise by moving sideways instead of falling. After the weekly candle opened, there was a slight adjustment, and the potential breakout of the 1h ascending channel was a false breakdown that was recovered 🔥🔥🚀
Yesterday, I emphasized the potential buying point at the lower edge of the channel and the possibility of establishing a right-side high point. The continuation of this channel is the core logic for my long positions 🤷🤷
I am not making any changes to the short-term target of $BTC . The low long position at 93.4k given last night should be held. The small target should reach at least above 96k to align with the potential for bullish expansion. Then, we will observe the pressure situation at the previous high points 🤔🤔
It's still too early to determine how far it can go; we can only take it step by step. If it shows strength, it may reach the upper part of this channel, around 97.3k. After establishing a right-side high point, there is a high probability of multiple top retracement expectations, so the cost-performance ratio for chasing long positions is already not high 😕😕
