$BTC
There is significant resistance near 95500. If we can break through 95780 in the next 3 days, the market may continue to rise.
The daily chart has been oscillating for 6 days. The key point is that a direction is likely to emerge! Personally, I think the possibility of a pullback after a rise is quite high!
However, if we see 9 consecutive bullish candles, the risk will increase.
Currently, on the 4-hour, 6-hour, and 8-hour charts, many indicators are showing bearish divergence (prices are rising but indicators are not following, indicating a loss of momentum in the rise). This kind of hard pull-up against the divergence will eventually collapse.
Last month, Bitcoin suddenly surged, creating a large bullish candle. From the perspective of the monthly chart, it is indeed possible to continue to make a new high, but after the rise, a pullback is very likely.
Previously, I predicted a significant drop near 86000, but since there were no signs of distribution, I continued to be bullish, and the results confirmed it. But don’t think it can keep rising; the market can reverse at any time, and distribution is the key signal.
Several key levels: Resistance levels at 95200, 96200, 96600, and 97700, where prices may easily be pushed down;
Support levels at 93000, 92100, 91600, and 90600, where a rebound may occur if prices drop to these levels.
Strategy reference:
Short at highs (short near 95150)
Long at lows (long near 92400)
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