BTC has successfully broken through 100,000 as expected, continue to buy on dips

BTC and the Nasdaq both broke through important resistance levels last night. In the short term, there may be a need for consolidation to digest profit-taking and regain strength.

Yesterday it was clearly stated that despite facing the significant resistance at 100,000, a breakthrough was still expected, and after breaking through 100,000, the rise would accelerate. Last night's market quickly surged to around 102,600 after breaking through 100,000. Whether buying on dips or chasing after the breakthrough of 100,000, there were small gains. As for the current market situation, it is just a consolidation rebound; without any significant positive news, there won't be continuous large rises or even new historical highs.

Therefore, it is normal to have some consolidation after breaking through resistance. The trading strategy is very simple: just buy on dips. It is recommended to buy around 100,300, which is approximately the current price. The price just dropped to around 10,400, and the stop-loss should be a bit lower, set around 97,700. When in profit, it is advisable to reduce the position by half, leaving the other half to see the upper range. The trend is relatively volatile, and the market will have fluctuations, especially since the positions bought later are not very good. It’s necessary to take profits and reduce positions appropriately to lower the cost of holding. If it is a previously bought position at around 94,000, then it doesn’t matter.

Since the trend is relatively upward and volatile, are there short opportunities? Yes, there are quite a few, but it is essential to grasp the peaks and take profit points well, preferably short intraday at previous platform resistance points, and then take profit near the support levels in the 4-8 hour range. Feel free to do as you wish; I won’t fuss about it.