Bitcoin Weekend Script: Beware of 'False Breakout' Tricks! Will Bulls Make Big Moves Next Week?
Keep a close eye on these two lifelines this weekend!
On the 1-hour level, Bitcoin is 'holding back for a big move' — the tighter the range, the more a direction must be chosen this weekend! But don't get too excited; although the 4-hour and daily charts are bullish, there are two risks this weekend:
1️⃣ The benefits of the China-US-Switzerland meeting may be realized early;
2️⃣ Liquidity exhaustion.
On the 1-hour level, there may be an initial false drop; support levels are at two positions: First line of defense: 1-hour 10/2500 line (if it breaks, don't panic, it may just be a washout); Ultimate defense line: 4-hour middle track 10/1000 (as long as this level holds, the bulls can still counterattack).
If the 1-hour breaks but the 4-hour middle track holds — this is a strong signal, rush to buy the dip!
If even the 4-hour middle track breaks — the bulls will be in trouble, and a daily correction begins, we need to watch the daily support closely.
Heavy signals for next week:
MA200 and MA120 two long-term moving averages are about to 'golden cross'! Once MA200 crosses above MA120, the technical aspect will sound the charge for the bulls! But there are two prerequisites: US stocks shouldn't crash (don't drag down the crypto market); CPI inflation data shouldn't explode (don't trigger panic selling).
Don't chase after rising prices this weekend! The probability of a false breakout is extremely high; either wait for a pullback to enter or just watch; the bulls are set to do big things next week! If the moving averages golden cross + US stocks stabilize, BTC reaching 106000 and ETH hitting 2700 isn't a dream; but remember: the crypto market specializes in surprises, and before a real breakout, there will definitely be repeated washouts, so hold steady!
Do you think BTC can reach 106000? Is ETH 2700 the finish line or the starting point?
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