6.17 Tuesday Morning Bitcoin Trading Strategy
The road to success is not crowded, because there are not many who can persevere to the end. When you want to give up, please tell yourself to hold on a little longer, because often it is this little bit of persistence that brings you one step closer to your dreams.
The oscillating upward tone continues, and it's the right time to build long positions at low levels.
Previously, the market was dominated by bulls, and both the daily and four-hour charts showed very strong upward momentum. The daily line has continued to rise consecutively, recovering the pullback space, while the four-hour line's candlestick has broken through the upper Bollinger band and entered a strong area. However, the market is not all smooth sailing, and recent price action has entered a new phase.
From the four-hour chart, the market still maintains a structure of oscillating upward, with bullish strength continuing to dominate. But earlier key resistance levels are like obstacles, exerting strong pressure on the price, causing it to enter a reasonable pullback and repair range. This is a necessary step for the market to operate healthily, helping to release profit-taking pressure and allowing bullish strength to accumulate again. After the brief pin bar action, the market is likely to resume its oscillating upward trend. However, short-term fundamental news, such as policy regulation and significant industry events, may bring strong impact and should be closely monitored.
Four-hour support and trend: Despite the pressure, the oscillating upward structure is solid, and the pullback is a minor interlude in the upward process. The market is expected to regain its upward momentum after the pullback, and the pattern of bullish dominance remains unchanged. The hourly support is clear: on the hourly chart, the price stopped falling after descending to near the middle track, with the middle track providing significant support. Reversal signals from technical indicators, such as MACD golden cross and KDJ turning upwards, will provide support space for the price below, and the possibility of a deep dive is low, providing an opportunity for low long positions.
Daytime trading strategy
Buy Bitcoin at 106000-106500, target 107500
