$BTC Evening View:
Is trading very difficult? Actually, it's not difficult at all. The market has already given you all the answers; it's just that you haven't taken the time to look. To put it simply, people have become accustomed to eating what's handed to them and are unwilling to search for food on their own.
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Students, please look at the image: at the position indicated by the white arrow in the image, the big cake (Bitcoin) has made a bullish continuation after breaking through 116000 and the triangle. A continuation means choosing a direction, and ultimately the choice is an upward breakout.
Moreover, it has successfully broken through 117000. Now, it has pulled back to the upper boundary of the triangle to gain support and is consolidating in a continuation pattern, indicating that the big cake still needs to choose a direction. As long as the big cake does not drop below 116000, continuing to break upward is the only way out for the big cake. If 117000 can break and hold, it will create another bullish continuation, and then it will reach the position of 118791.
Looking at the D point of the bearish butterfly pattern in the image, if 118791 can be broken, it will touch the D point of the butterfly at 120839. If it can hold, we can look for previous highs or new highs. The D point of the bearish butterfly pattern is also a potential reversal zone. If it cannot break directly to the D point, it must pull back. Currently, I can only see the limit of the bounce for the big cake here; the rest depends on where it goes from here. Is my interpretation of the chart clear to you? Don't study the news; understanding the chart is more important than anything else.
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The big cake broke through 116795 with volume, so chase long on the right side. If it drops below 116400 with volume and fails to recover, chase short on the right side. Pay attention to changes in volume.
The big cake has broken through and stabilized above 116980 on the hourly level, looking upward at 117630-118869. If it breaks 118869, 120000 is on the way.
On the 4-hour level, if it drops below 116003, look downward at 115042-114081. As long as it does not drop below 114081, the bullish trend is not damaged.
Continuing to look at the chart: The big cake on the daily level has returned to operating within the box. Returning within the box indicates that the big cake is starting to strengthen. As long as it does not drop below the box, everything is fine. If the US stock market opens this evening and can break through the midline of the box, it will be equivalent to installing a rocket booster on the big cake, making it even stronger. Keep a good stop-loss, and let's disperse the meeting!
