Participating in a one-sided market requires courage, while participating in a volatile market requires patience. Without courage, you cannot achieve great things; without patience, you cannot accomplish great things. Too many people come with hope every day, only to return with despair. It is not the market mocking you, nor is it your lack of courage. The market is both a meat grinder and an ATM; this is the essence of the market, which is a battlefield.
Hello everyone, I am trader Gege. Continuing from last time, Bitcoin's market continued to rise slowly yesterday, with a slight pullback in the early morning, but the intensity was not great. Last night, I saw a small rebound. The data released today did not affect the continuation of the upward trend; it only experienced a minor pullback during the announcement before testing upwards again. The recent influx of funds from outside has led Bitcoin to test the previous high again. Whether it can reach a historic new high remains to be observed. As mentioned before, near this price level, the main force is likely to dig pits and set traps. Regardless of how strong the trend structure is, it is still wise to be cautious; being conservative is not a bad thing, just a bit slower. Of course, when encountering highly certain trends, one should strike hard; these two do not contradict each other.
The daily K-line of Bitcoin continues to test the upper Bollinger band while also being near the previous high resistance. Therefore, there is not much to say about the technical aspect today; it relies more on on-the-spot operations. I mentioned this in a previous article, and I will reiterate it today. If you are a conservative player, then just observe, as this is yet another multiple attempts to break through the previous high. You can choose to wait for the market to show results before seeking a conservative plan. If you want to test a position, you can defend with an acceptable loss. There are two strategies: the first is to enter near the previous high if it does not break and retreat upon a breakthrough. The second is to enter again if it appears to break the previous high but closes back down to the current high point or below, using the new high as a defensive point. If there is a strong breakthrough, then just observe. The above is a strategy for testing short positions; those who agree can refer to it. What about short-term long positions? First, observe the support at the 108000 level, and next at the 106000 level.
For short-term operations, I believe positions can be tested short below 2700, as long as it does not stabilize above the 2700 level. If it stabilizes, it will continue to rise. So, you can refer to the range of 2640-2680, but remember the above premise. Short-term support is essentially at the 2500-2480 level, and next at the 2400-2380 level. Today's strategy will not be separately written; follow the thought process and try what you like.
Suggestions are for reference only. When entering the market, make sure to manage risks properly. Profit and stop-loss spaces should be grasped independently, and specific strategies should primarily be consulted on-site.
Alright, friends, we will say goodbye until next time. I wish everyone better and better performance, and smooth sailing in the cryptocurrency world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin, find Gege.
Written by: I am trader Gege. A friend willing to accompany you to rise again.
