$BTC Evening Viewpoint:
Looking at the chart: Bitcoin is currently holding steady at the resistance level of 109595. As long as it doesn't break below the lower boundary of the triangle, this upward movement won't create a lower low, so it won't revisit the low of 106212.
If it can move up a bit and break through the upper resistance of 111321, we can then see the position of 113538. It needs to hold above 111321 at the hourly level to stop the decline and break through 113538 for a reversal at the hourly level.
If Bitcoin doesn't break the triangle and moves within it, everything is fine; if it breaks the triangle, it must revisit 106212 to form a double bottom before choosing a direction.
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To go long on Bitcoin, either wait for a pullback to 108281 to enter with half a position on the left side, or go in at market price now, but remember to set a stop loss.
At the hourly level, if it breaks above and holds at 110031, look up to 111235-112192-113538. It can only continue an upward wave if it holds above 110031; otherwise, it might just spike and then pull back at 113538.
At the 4-hour level, a break below 108677 looks down to 107217-106273. If it breaks below 108677 and doesn't recover, it will go lower.
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Continuing to look at the chart: Bitcoin has once again come near the EMA200 daily moving average, and the daily closing price must not close above the EMA200. If it closes below the EMA200, the positions indicated by the white arrows below may be far but will definitely come. Only a breakout above the EMA50 daily moving average at 112848 can eliminate the risk of Bitcoin falling again; otherwise, it's like a bomb on the edge of exploding. Keep an eye on the changes in trading volume, meeting adjourned.
