Last night the market experienced a significant correction, finally pulling back.
BTC rebounded to 109760 after finding short-term support around 107250, but fell back after facing resistance. This morning, the downward trend continued, hitting a low of 106721 USD.
In the face of historical highs, this small pullback is insignificant. I wonder if there will be any surprises on Sunday; usually, it's calm, but the past few weeks have shown fluctuations. From a weekly perspective, it is still in a small bullish state, with the highest position being 111980 USD and the TD sequence number being 5. The positions of the 10-day and 30-day moving averages are near the middle band of the BOLL indicator around 93000. It is necessary for the price to pull back to touch the 5-day moving average around 102000 before pulling the moving averages up to enter a bullish mode, which is also normal.
Bitcoin has a built-in siphon effect and remains at the top of stability. Its fluctuations compared to other coins are relatively stable, making it a preferred choice for value investment and followers of faith. Therefore, looking at new highs from this position is not a problem; overall, we continue to see this position as bullish.
Strategy: It is recommended to go long at 107000, with a stop-loss set around 105000. Continue to hold.
Currently, it appears that the main force has not sold off. If they do sell off, an event similar to 519 may happen again, so always set a stop-loss to avoid holding against the trend.
If there are any changes in the market, it will be announced in the small circle immediately.
