Morning Thoughts on September 5
From the daily chart perspective, the price has been continuously rising, showing a consistent upward trend, while the four-hour level pullback appears to be extremely tight, not only brief in duration but also very quick in price retracement. It is anticipated that during the morning session, the market will experience a short-term corrective trend. Given the current market structure, blindly chasing high prices to go long can easily expose positions to high-level risks and is not a rational trading strategy. Subsequent trades should grasp the dominant direction and prioritize placing short positions on rallies.
Bitcoin Trading Strategy: Sell on the rebound around 103000-104500, targeting 100000.
From the daily chart perspective, the price has been continuously rising, showing a consistent upward trend, while the four-hour level pullback appears to be extremely tight, not only brief in duration but also very quick in price retracement. It is anticipated that during the morning session, the market will experience a short-term corrective trend. Given the current market structure, blindly chasing high prices to go long can easily expose positions to high-level risks and is not a rational trading strategy. Subsequent trades should grasp the dominant direction and prioritize placing short positions on rallies.
Bitcoin Trading Strategy: Sell on the rebound around 103000-104500, targeting 100000.
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BTC
103,150
+0.70%