#BTC新高10W Bitcoin has broken through the 100,000 mark. How should we understand this?
Bitcoin has surpassed its historical high, showing a daily continuation upward pattern, and it is expected to continue rising.
From the hourly chart, it is currently in a slight state of fluctuation, and there may be some adjustments. However, looking back at the previous trend, that steady and slight upward movement already indicates strong short-term upward momentum. This slight fluctuation can actually be seen as a brief rest on the path of rising, just like taking a break while climbing a mountain to gather strength for the next ascent. As long as the key support levels are not broken, the overall upward trend remains solid.
Looking at the 4-hour chart, the price has been fluctuating at a high level, but the pullback strength is weak, with the candlestick firmly above the short-term moving average. This indicates that the bullish momentum is quite strong, and the short-term moving average acts as a solid support point, firmly holding the price. Just like on the battlefield, the bulls are holding their ground firmly, and the bears have completely failed to regain control. With the current momentum, the bulls are likely to launch another offensive, pushing the price even higher.
Support levels to watch: Focus on the support levels of 100878 and 100000 during the day. As long as these positions are not broken, the bullish pattern will continue to hold.
If Bitcoin breaks below 100,000, the support level is around 97,000, and investors can wait for opportunities here.
Wednesday afternoon operation suggestions (writing time 14:40)
BTC: 101000~101500 bullish outlook for 104000
ETH: 3800~3830 bullish outlook for 4000
Be sure of the trend and don't hesitate; leave professional matters to professionals.
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