The Bitcoin price reached a low of 95801 last night before rebounding, currently peaking at 97400. From a long-term trend perspective, with the monthly line closing positively, Bitcoin may end the nearly three-month retracement adjustment.
After a daily level rise, this week marks a period of contention for the weekly close, and the market is likely to experience intensified fluctuations. In terms of operations, the core strategy should be 'broad fluctuations,' flexibly responding to range breakthroughs and pullback repairs.
Despite previous retracements, the overall strong structure of Bitcoin has not changed, and it is still in an upward trend. The daily line has formed consecutive bullish rebounds, recovering lost ground, with lower lows continuously rising, indicating a strong short-term trend. The daily single bullish candlestick rising to a high position suggests that there is still a trend of continuing upward in the short term.
From a technical indicator analysis, the 4-hour chart is driving the Bollinger Bands' upper band expansion, and the mid-band above is still effective support, with Bitcoin prices breaking through the constraints of the upper band. The hourly chart shows a relatively strong one-sided upward trend,
Each time it pulls back to the mid-band, it stops immediately, with the mid-band serving as a lifeline for short-term bulls, making any slight pullback a good buying opportunity. Typically, during the slow rising trend of small bullish candlesticks, a rapid increase in volume has not yet signaled a top, and the short-term will maintain this slow rising and meandering rhythm.
The market never lacks opportunities; the question is whether you can seize them. Only by following experienced people and the right individuals can we earn more!
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