$BTC Evening View:
The big coin closed with a weekly line today; let's take a look at how the weekly line of the big coin closed, it closed with a high position doji star. If the big coin cannot break through this doji star at the weekly level this week, this doji star will be the recent high point of the big coin.
I have been waiting for the big coin to make a decent correction, hoping that this week I can achieve the long-awaited correction, a pullback of around 5000-8000 dollars would satisfy me.
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Speaking with charts: The hourly level of the big coin is forming a pennant pattern; a breakout above the upper boundary of the pennant will lead to further increases. Now it has returned to operate within the pennant pattern; draw this pennant pattern on your own chart, can you draw it like a gourd? Once you draw it well, you can trade up and down around the upper and lower boundaries of the pennant pattern.
Before any good or bad news appears, the hourly level of the big coin will continue to oscillate around the upper and lower boundaries of the pennant; just manage your stop-loss if it breaks out or drops.
Many students do not know what a 2B false breakout is; today’s breakout from the pennant pattern and then dropping back down is precisely a 2B false breakout, isn’t it?
In addition, it has closed with a bearish engulfing pattern; if you don't draw your chart, how can you know what a false breakout is? When a false breakout occurs, you should know what to do; if you don't short, you definitely shouldn't go long either. A 2B false breakout is an excellent short position with a small stop-loss, and there is a high probability that you can profit from it thoroughly; the high point of the false breakout is your stop-loss point. Trading is not difficult at all; nothing is difficult for those who are determined.
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The big coin broke through 119172 with volume; chase long on the right side, if it breaks 118839 with volume and the rebound cannot recover, chase short on the right side, and manage your stop-loss well.
If the hourly level of the big coin can stabilize above 118930, look upwards at 119658-120658; if it cannot stabilize above 119658, it is useless.
At the 4-hour level, if it breaks below 118515, look down at 117686-116339.
Continuing to look at the chart: the upward wave of the big coin at the hourly level just happened to hit the Fibonacci 1.618 position and faced resistance and retreated.
Looking at the downward correction, check the Fibonacci 1 to 1 target correction position at 118575; if it cannot hold, look downward at the 61.8 position and the 50 position. Market trends unfold step by step; looking at upward movements or corrections is also a gradual process. It is not the case that just because someone tells you it can rise to a certain level, the big coin will definitely go there. Meeting adjourned.
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