5.2 Evening Thoughts on Bitcoin
Bitcoin briefly touched 97300, but the upward momentum weakened; however, the overall upward trend is still continuing. Looking back at the night’s movement, after a small-scale pullback and consolidation, the current hourly level has regained a foothold.
The key support level to watch is 96887. As long as the hourly closing price holds above this level, bulls are expected to continue their efforts, aiming directly for the pressure range of 98600-99700. Short positions can be strategically set in this range, but remember to manage positions reasonably.
If the hourly closing price falls below 96887, it is recommended to take profits on long positions immediately. Aggressive investors may attempt to short with a small position after a valid breakdown, with a stop loss set at 97400. Once this level is breached, the lower range of 95800-95200 will become an important support area, at which point strategies can be flexibly adjusted based on actual market movements.
