7.5 Yike Long-term Strategy for Next Week
From the weekly level analysis, after a series of consecutive bullish rises, the price has been constrained by the 110,000 mark. Recently, it has maintained a wide range oscillation between 100,000 and 110,000. The 110,000 mark has been tested multiple times without success, indicating strong resistance in this area. Previously, after the price surged into this resistance zone, it quickly retraced to around 75,000 before resuming its upward trend. Currently, the price is once again encountering resistance at 110,000, and in the absence of significant positive news, it is expected that a successful breakthrough will be quite challenging.
From the daily level analysis, it shows a clear oscillating pattern recently, with both bulls and bears repeatedly contesting, and the price movements lack continuity. Key support and resistance levels have not been effectively broken, indicating that the market has not formed a unilateral trend. Currently, the rebound momentum has weakened, and the price is constrained by the upper band of the Bollinger Bands, so caution is advised for chasing up in the short term. After clarifying the overall oscillating pattern, it is recommended that next week’s operations still be dominated by high short strategies.
Next week’s operational thoughts:
Focus on long-term opportunities near 110,000 for Bitcoin; if the support area at 101,000-100,000 holds, one can consider going long;
If it effectively breaks down, follow the trend to short.
Yitai suggests long-term layout near 2,600, observing the support area around 2,300-2,250 for performance, and follow up after a break.
