The price of Bitcoin has once again reached a previous high of $BTC , only 200 points away from breaking through. Will it break through next? ❓ Let's analyze the market trends sequentially from the daily, 4-hour, and 1-hour charts! ❗️
1. From the daily trend, it completely aligns with what was previously said, that after reaching 70,000, a large bullish candle needs to appear to touch the upper Bollinger band. Currently, it is indeed continuing this way. If the daily level can persist, you can hold onto your long positions.
2. From the 4-hour level, we can see that there is a small gap left, approximately between 71,600-72,200. If the momentum remains unchanged, as long as the price returns to this range, you can buy on dips.
3. From the 1-hour level, we can see that the price is likely to enter a consolidation range. Therefore, we need to closely monitor whether the price moves towards the middle Bollinger band on the 1-hour chart and whether it will rebound or break below after touching it. I estimate that the price touching the middle Bollinger band will be around 72,000 (not certain). Once it touches the middle band, it is essential to closely watch for a rebound; hold onto your long positions. If the closing price falls below the middle band, please take profits immediately‼️ Additionally, if it breaks below, watch the support level at 71,000. If 71,000 cannot hold, then the framework changes, and lower lows will appear! ❗️ At that time, look for opportunities to open short positions.
👍 Positioning:
For those who still have long positions, check if the price around 72,000-72,300 will retest again. If it retests again, I recommend taking profits.
For those without positions, also pay attention to the 72,000 level. Personally, if the subsequent 1-hour level breaks below the middle band, I will open a small short position, and I will add to the short when the price touches and breaks below 71,000.
Ps: I have already taken profits on my long position at 72,300 (personal decision), not investment advice.
