$BTC Evening Insights:
Talking through the chart: The Bitcoin hourly wedge has been broken through, and it has successfully stood above the resistance level of 112132.
The doji indicated by the white arrow does not look good; this hourly high doji cannot be broken. If it is, Bitcoin will undergo an hourly pullback, and it will fall back into the wedge to test the support at 112132 and the lower boundary of the wedge. If it can hold, it will surge upwards.
Looking at the volume decline indicated by the white arrow below, the drop has not increased in volume. A volume-decreasing drop does not lead to a continued decline unless there is a surge in volume; this may be a smoke screen released by Bitcoin to confuse everyone, making you feel that Bitcoin cannot rise, leading to more shorts being opened. A strong bullish candle could wipe all that out. So what you see is not always the truth; can you be sure that everyone you see every day is a real person? Haha
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Bitcoin should break through 113220 with volume to chase long positions, and if it drops below 112892 with volume and fails to recover, look to short on the right side, and set proper stop losses.
If Bitcoin breaks and stands above 113511 on the hourly level, look upwards at 114788-115635; if it stands firmly at 113511, Bitcoin will take off.
On the 4-hour level, if it breaks below 112517, Bitcoin will pull back and look down at 111663-110867. Hopefully, it won't drop below 112517.
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Continuing with the chart: If the closing price of Bitcoin on the daily level can close above 113786 indicated by the right yellow arrow tomorrow at 8 AM, this wave of daily pullback will temporarily come to an end.
If the daily closing price is above 113786, there is a high probability it will touch the area circled in yellow and the upper boundary of the range. Hopefully, Bitcoin can continue to oscillate upwards within the upper range.
If Bitcoin breaks below the lower boundary of the daily triangle, it will operate within the lower range, which I do not want to see, nor do you. Whether in work or trading, always consider the worst outcomes; that way, when it actually happens, you won't be caught off guard. Pay attention to changes in volume, and meeting adjourned.