$BTC The price of Bitcoin has reached a critical position. Two days ago, when the price of Bitcoin stabilized above 68,200 for four hours, everyone was reminded to confirm that the daily closing line was above this price. Later, it did stabilize and touched 69,000. As for this week's weekly line, I must also remind everyone that if the level is 68,000, we can look at 72,000 next week. If it is not stable and falls below, the fifth wave will end early.
💡So how do we look at the market next week? From the photos below, the order is weekly line - daily line - 4 hour line - 1 hour line.
1. Weekly line: After nearly 7 months of consolidation, MACD once again appears golden. This is definitely a good message, indicating that the price will follow the momentum, but this is a weekly line, tens of millions Don't put all your chips in just because you say this. I will explain why later.
2. Daily line: From the daily line level, we can see whether the current trend is very similar to the previous red box? When the price cannot continue to rise along the upper Bollinger track, such a trend is to move the daily level to the middle Bollinger track, and there may be a callback of more than 3,000 points⚠️
3.4 hour line: The 4 hour level indicates that the market is replacing the decline and is accumulating energy. There is a high probability that it will rise. However, the key is that the weekly line cannot be lower than 68000. This is because to accumulate energy, the daily line must continue to be on the Bollinger Track. Move forward, otherwise it will fall below the middle track, and MACD will fall below the 0 axis.
4.1 hour line: From the price corresponding to MACD, we know that the momentum of the same price is now obviously at a low point, and there is more opportunity for an upward surge. Therefore, there is no sign of weakness at the current price.
However, prices are ever-changing, and we just need to grasp a direction first, rather than guessing long or short without headless flies.
👍For the opening position, you can read my articles yesterday and the day before yesterday. The concepts are the same.
