$BTC Evening Insights:
Talking through the charts: The upper boundary of the triangle at the hourly level for Bitcoin has just been pierced. If it can hold above the triangle's upper boundary, it will challenge the position of 118855 upwards. However, if it performs a false breakout and falls back, it will return to the lower range of 117102-116027 for a period of oscillation and consolidation.
If 118855 can continue to break through and hold, then it aims for 120,000. The market moves step by step; if you ask me how high Bitcoin can go, I can't give you a clear answer because I can't predict the future, and I’m just observing as I go along. Unlike others who jump to conclusions, saying it will reach 130,000-150,000 if it rises, or 70,000-80,000 if it falls.
Some people are even more in line with their expectations; this guy is all over the internet boasting about how accurate his predictions are, afraid others won't know.
Classmates, when have you seen me post about my accurate predictions online today? I have one principle: keep a low profile; being low-key is the best form of flaunting.
🧢
Bitcoin volume breakout at 117338, go long on the right side. At 116859, if it breaks down with volume and cannot reclaim, go short on the right side, and manage your stop loss well.
When Bitcoin breaks and holds above 117518 at the hourly level, look upwards to 118837-119817-120307, this is the initial target.
At the 4-hour level, if it breaks below 116954, look down to 116292-115690; if it holds above 116954, it will continue to rise.
Continuing with the chart: Bitcoin has returned to operate above the 20-day EMA on the daily level, indicating that Bitcoin is starting to strengthen at the daily level.
As long as it does not break below the 20-day EMA during a pullback, Bitcoin will maintain its strength at the daily level. It may even stage a rebound at the daily level.
Looking at the MACD indicated by the white arrow below, it has also turned upwards and is back above the zero axis. The daily MACD not being below the zero axis indicates that the bulls are in control of the market. The main strategy should be to buy on pullbacks with shorting as a supplement; avoid going against the market and pay attention to changes in volume. Meeting adjourned.