$BTC Evening Viewpoint:
Yesterday, the market was in a downward trend, and all the bulls seemed to have gone quiet. Today, with a rebound, the bulls are coming back and starting to look at 120,000 again.
It's really a case of forgetting the pain after the wound has healed! Once you get used to it, the dealer loves it when you are like this, the more, the better, sticking to one trend and going all in. No amount of pulling back can change the course; the market has rebounded several times but can't break through the key positions. Can't you see that yourself?
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Let's refer to the chart: On the 30-minute chart, the small-level lows are indeed rising, but students, when you switch to the 4-hour level, the highs are continually decreasing, and no new higher highs are being created.
Before a new higher high appears, be cautious about seeing a reversal; just observe the rebound, as it may still test downwards.
The market has broken through 103737 with high volume; if you chase the long position on the right side, just take some profit and run, don’t get too caught up in the pattern, as the pattern can be easily hit. If it breaks down through 103158 with high volume and fails to recover, be cautious about chasing the short position on the right side. Pay attention to the changes in volume and set your stop-loss properly.
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On the hourly chart, if it breaks through 104162 and stabilizes, it will continue to challenge 104625-105222 and the previous high. If it can’t go up, it will continue to oscillate.
On the 4-hour chart, a break below 103278 looks down to 102360-101507.
Continuing with the chart: On the hourly chart, to form a W bottom pattern, it must first break through the neck line marked in the chart. Only after breaking the neck line can it be considered a valid W bottom; otherwise, it won't hold.
Without external funds injected, I believe it's very difficult to maintain an upward trend.
Maintaining a high-level consolidation is already impressive. How many retail contracts can reach 120,000? Wouldn't you take profit and run? In spot trading, you might manage to hold, but in contracts, you definitely can't; that’s the end of the meeting.
