Market Review: Trend Breakthrough, Bullish Strength
BTC accelerated to 105,700 after strongly breaking through the key resistance of 104,600 yesterday morning, confirming our bullish outlook. The price is currently maintaining a high-level fluctuation, with the daily MACD showing a golden cross and increasing volume, the 4-hour Bollinger Bands opening upwards, and moving averages in a bullish arrangement. The technical aspect still leans towards bullishness; as long as the price does not break below the 104,600 support during a pullback, it is expected to further challenge 106,800 or even 107,500.
Healthy Volume and Price, Mainly Buying on Dips
During the breakout process, trading volume significantly increased, indicating that main funds are entering the market, while volume decreased during the pullback, showing limited selling pressure. It is recommended to position for buying on dips after stabilizing between 104,600-104,800; aggressive traders can try to go long with a small position between 105,000-105,300, setting a stop loss below 104,400, targeting above 106,500.
Beware of Short-term Volatility, but the Trend Remains Unchanged
If it unexpectedly falls below 104,400, be cautious of short-term pullback risks. However, the long-term upward trend remains intact, and a deep pullback may actually provide a better buying opportunity. Overall, bulls still dominate, and holders can continue to let profits run while paying attention to the breakthrough of key resistance above.
