Crypto Circle Academician: Bitcoin surged to extreme overbought levels in a short time at 5.9! The market is changing dramatically, awaiting a decision! Latest market analysis reference
Current Bitcoin price is 101350, it is now 3:30 AM Beijing time, the sudden stretch caught us off guard, the short position at 99500 was ultimately stopped out after breaking the previous high, the big coin went completely crazy after breaking the 100,000 threshold, really bullying retail investors, treating them as if they were nothing, purely harvesting retail traders like leeks. I know the bulls have started, but at this moment I choose to observe because the essence of trading is survival. We must survive first before considering profits.
Looking at the order book, the daily K-line reached a high of 101700, very close to the golden ratio 0.786 resistance level of 102400. After the EMA trend indicator's upward alternation ended, there was a sharp rise in the market, especially after breaking 100,000. The EMA15 trend fast line support broke below 95000, and the stretching has not yet ended. The MACD, which originally ended, started to increase in volume. The DIF and DEA death cross were reversed to form a golden cross diffusion trend, opening up the bullish situation. The K-line broke the upper Bollinger band resistance level of 101500. It is expected to choose a direction after consolidating on the upper band.
The four-hour K-line diverged from the EMA trend indicator, stretching upwards. The EMA15 trend fast line support has reached 98000, and the major support level to watch is 93400. The MACD continues to increase in volume and steps upward, confirming the bullish trend. The Bollinger band is opening up, and the K-line is expanding upwards around the upper band at 101000. The market has reached an extremely overbought condition, with the possibility of a reversal at any time. The main force has now reached a critical point, and at this moment, do not rush to choose between long or short. Wait for the pattern to appear before making a choice, or test short positions after breaking 0.786.
Short-term strategy reference: The market is never 100% certain, so you must set stop-losses well. Safety first, small losses, and big profits are the goal, especially after breaking key resistance and support levels, you should still stop-loss, do not hold on to losing positions.
For northern testing points: 95500 to 95000, defense at 94500, stop-loss at 500 points, target at 96500 to 97500, break level at 98000.
For southern testing points: 101700 to 102000, defense at 102500, stop-loss at 500 points, target at 100000 to 99000, break level at 98000.
Specific operations are based on real-time market data. For more information, you can consult the author. There may be delays in article publication; it is recommended for reference only. Risk is self-borne. $BTC
