The essence of trading $BTC lies in following the trend—breakthrough follow-up, taking profit under pressure, and reversing at key levels. The market is always right; only those who are flexible and adaptable can continue to profit. After the price of the currency fell from the high point of 110504 to the low point of 109020, it rebounded again to oscillate around the round number of 110000. The midnight strategy from Yund鹿 suggesting long positions around 109300 is also based on the market conditions, providing a space of 1000 points. Currently, the price has slightly retreated to around 109650 for consolidation.
The 4-hour level shows a healthy adjustment trend, with MACD maintaining a golden cross above the water but with shrinking red bars. The RSI has retreated from the overbought area to a reasonable range of 65, and the middle track of the Bollinger Bands at 108800 constitutes strong support. Key resistance levels to watch are the neckline at 110200 and the trend line pressure at 110800, with support below at 109000 and the daily trend line at 108800. It is crucial to pay attention to the early morning US stock futures and capital flow, being wary that if 110200 cannot be broken consistently, a double top structure could form. If the key support of 109000 is broken, it may trigger a deeper adjustment. It is recommended to maintain a flexible mindset to respond to market fluctuations.
Bitcoin recommendation: Long positions on pullbacks in the 109300-109500 range (stop loss at 108800), target at 110200-110800; if 110200 breaks, long positions can be pursued up to 110800; on the first touch of the 110500-110800 area, short positions may be attempted.
