Crypto Circle Academician: Bitcoin reaches the golden ratio at 5.3, short-term bulls are ready to strike! Is there still hope for trapped short positions? Latest market analysis reference
The fundamental of trading is survival, and only then comes profit. I hope you can understand,
Bitcoin is currently priced at 97,500. It is now 3 AM Beijing time, and the daily candlestick has already broken through the golden ratio of 0.618, reaching the top of the ascending flag pattern. At this time, many crypto friends are trying short positions, as the large-scale trend has entered an extremely overbought state with signs of reversal. The main force may sell at any time, but capital giants are hoarding Bitcoin. Without favorable stimuli, there is indeed a high probability of a pullback. Before this, it is expected that the main force will quickly push the price up before selling, so there is no need to rush; this market is no longer suitable for retail investors to enter. Stay out and protect your chips, survive.
The daily candlestick has reached a high of 97,850 and a low of 96,300. The EMA trend indicator is still showing an upward alternating expansion trend, MACD is diverging upwards with increased accumulation, and DIF and DEA are expanding upwards. The candlestick is standing above the golden ratio, stretching upwards, and the Bollinger Bands are opening upwards. The upper band has reached 100,300, while the lower band is still at the 90,000 mark, leaving a gap of 10,000 points in between.
On the four-hour candlestick, the ascending flag pattern is present, with top resistance to pay attention to in the pressure zone above 98,500. The EMA30 support is at 95,300, with MACD continuously increasing in volume and accumulation, and DIF and DEA showing a golden cross upwards. The candlestick is expanding upwards around the upper band of the Bollinger Bands at 97,900, with the middle band at 95,600. The overall trend has entered a bullish level in the short term; there is still space for short-term bullish movements. It is temporarily recommended to mainly observe.
Short-term strategy reference: The market is never 100%, so always set stop losses; safety first. The goal is to minimize losses while maximizing profits, especially when breaking key resistance and support levels—stop losses must be taken, do not resist positions.
For bullish testing points: 95,500 to 90,000, with a defense at 94,500, stop loss at 500 points, target looking at 96,500 to 97,000, break point looking at 97,500.
For bearish testing points: 98,500 to 99,000, with a defense at 99,500, stop loss at 500 points, target looking at 97,000 to 96,500, break point looking at 96,000.
Specific operations should be based on real-time market data. For more information, please consult the author. The article may be published with a delay; it is advised for reference only, and the risk is borne by the reader. $BTC