$BTC 6.4 (Morning Thoughts)
In simple terms.
Currently, it looks like it is supported on the daily chart, but it's obvious that the momentum is not very strong.
For short-term trading, we can temporarily categorize this as a consolidating market.
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Looking at the second chart,
the current market interpretation is that it is moving through a rebound upward channel.
Soon, a big drop will follow.
The current trend is very classic, very textbook.
From the market perspective, this is what I see,
It is necessary to be cautious, as textbooks can also be traps set by institutions; do not be careless.
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So for the morning short-term,
my view is that on the hourly chart, it has repeatedly failed to break below the minor trend line, and each wave is higher than the last.
At the current position, we can go long with a small amount.
My target is 107700.
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From the last wave, there was a large bullish candle, but the overall height is not very high, and it quickly retraced.
I can determine that the upward pressure has increased.
My scenario is to quickly reach around the 107000 position, followed by a pullback.
If the direction is wrong, and it breaks below the trend line without recovering, then it will switch to a bearish situation.
These are all small loss positions.
Not a big deal.
