$BTC Evening Perspective:
I really hope Bitcoin can have a pullback right now. I wonder how many of my classmates share the same thought. I'm not saying I want it to pull back so I can get in; it's just that this kind of upward trend is very unhealthy.
Currently, with Bitcoin's movement, it either keeps pushing up without a pullback, or once there is a pullback, it becomes a major one. It would be better to have a minor pullback around 114,000 and consolidate before making another push; otherwise, the current trend of Bitcoin is very dangerous and could violently plunge down at any moment. Look at the funding rates for Bitcoin; it's quite alarming.
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Speaking with charts: As long as Bitcoin does not drop below the yellow trend line shown in the chart, the bullish trend remains safe. If it breaks this bullish trend line and cannot recover in time, those holding long positions should exit. Please do not think that just because I opened a long position, I can hold to 150,000; those who usually have such thoughts end up giving back profits or even hitting stop losses. Taking profits is your true gain; if you don't take them, it will always just be a cold string of numbers. Pay attention to the trend line in the chart.
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Bitcoin should break through 118,044 with volume to chase longs on the right side, and if it breaks down through 117,483 with volume and cannot recover, chase shorts on the right side. Set proper stop losses.
Bitcoin's hourly level breaks 118,156 to look upwards at 118,888-119,541. If it can't get above 118,156, it won't be able to rise.
At the 4-hour level, breaking 117,196 looks down at 116,402-115,233.
Continuing with the chart: For Bitcoin to form a W bottom at the hourly level, it must break through 118,231; only then can the hourly level's W bottom be established. If it cannot break 118,231, the hourly W bottom will no longer exist.
Pay attention to the time when US stocks open in the evening to see if any volatility occurs. Observe changes in volume. Meeting adjourned.