$BTC Evening Viewpoint:
Bitcoin is still very strong, almost recovering the decline from a few days ago. Which cryptocurrency can achieve that? Even Ethereum can't, let alone altcoins.
When trading contracts, it's better to do well with Bitcoin than anything else, let alone altcoins? People say this altcoin can rise 10 times and that altcoin can rise 100 times; they are them, you are you. There is nearly 400 million in short liquidity around 108,000 for Bitcoin. The meat is right in front of you; if you don’t eat it, then you need to think about it. The 108,000 level is also the take-profit point for short-term long positions. It is recommended to significantly reduce positions or take profits at the 108,000 level if you have long positions in hand.
Speaking with charts: Bitcoin is forming a flag pattern on the hourly chart, and this flag pattern opens upward, indicating a bearish flag.
Students should pay close attention to whether the upper boundary of this flag can break upward. If it breaks upward, the short-term bearish flag crisis is temporarily alleviated. If it continues to operate within the flag pattern and breaks below the lower boundary, Bitcoin will need to pull back; draw it out yourself.
Bitcoin should increase the long position when breaking through 106,702 with volume on the right side. If it drops below 106,450 with volume and fails to recover, then short positions should be entered; manage your stop-loss well.
If Bitcoin stabilizes above 106,550 on the hourly chart, it will continue to rise with a target of 108,021 - 108,447. As I said, as long as Bitcoin stabilizes above 106,550, it must take off; nobody can change that.
On the 4-hour chart, if 106,115 is broken and the closing price is below 106,115, Bitcoin will need to retrace to 105,480 - 104,580. As long as it does not break below 105,480 and consolidates a bit, it will still move upward.
Continuing to look at the chart: Bitcoin has continuously increased with 7 small positive candles on the 4-hour chart, and there has not been a significant volume increase yet. However, there are slight signs of a top divergence on the 4-hour chart, meaning prices are rising but volume has not kept up.
This means to look for a pullback; the best way to break the divergence is to push up sharply with strong volume. The rally yesterday and today occurred in the morning, which means Asian investors are pushing up the price while US investors are still observing, waiting to see if US investors will join Asian investors in the rally tonight. US investors tend to push prices much more aggressively than Asian investors. Pay attention to changes in volume; if you want to find opportunities to dig deep into trends and accurately grasp trading opportunities, come to Su Ge's 'main business'! Daily sharing, industry technology, market analysis, and breakdown of valuable information, leading you to understand the volatility logic of ETH!