Talk about your views on tonight's market. Bitcoin is still showing a small-level rebound while the larger trend is bearish. Currently, the Bitcoin price has been consistently above the MACD 30, so I believe that each pullback presents an opportunity to enter long positions. Therefore, Bitcoin still has the chance to release volume again to break new highs. Since the complete structure has not been formed yet, the cost-performance ratio of shorting Bitcoin is not high. So after the release of the CPI data tonight, if the price pullback does not break below the four-hour MA 120 (116700), Bitcoin can still be bought at low levels.
Trading Suggestions
Long positions with light volume at 118000-118500, target 120000. If near 117500, consider adding another position.
