I would like to apologize to everyone here. Recently, due to various matters, I have delayed the daily updates. I have seen everyone’s messages. Now that the issues have been resolved, I am here to complete the updates as soon as possible. Thank you all for your continuous support and companionship. Thank you!
Recently, the market has been completely dominated by news. In terms of trends, there is no need to say more about the strong performance. After a three-month correction, BTC has once again crossed the 100,000 mark and shows signs of hitting new highs. Therefore, we need to invest more energy and caution in the upcoming trades. I hope everyone can keep up with the rhythm and seize the market together!
Regarding today, Friday, the daily chart closed with a large bullish candle yesterday, and the K-line pattern shows consecutive upward movements. The price is above the moving average, and the auxiliary indicators are showing a golden cross. The overall trend is clearly upwards. After three consecutive trading days of corrective movements this week, yesterday’s price saw a significant increase due to news influence, breaking previous highs continuously. However, it should be noted that the current price has deviated from the moving average, so we should first look for a pullback support before entering long positions on the daily chart. In the short-term hourly chart, after the price reached a high this morning, it faced resistance and retreated. The current K-line pattern shows consecutive bearish candles, and the auxiliary indicators are showing a death cross, indicating a high probability of a pullback correction during the day.
For my short-term operations, we will short on rebounds and short at highs; the principle remains unchanged. For the market participants, I suggest focusing on the 103,000-103,800 area today! Look for a pullback to the 101,500 area, with continuity at 100,500!
Finally, I want to emphasize, be cautious and light-footed!