On Thursday morning, the risk market, after nearly a month of decline and fluctuations, surged forward like a raging tide under the push of the Federal Reserve and the rise of U.S. stocks, breaking through one resistance after another. At this stage, it has already risen above the key level of 85,000, crossing the watershed area, making it extremely difficult for those who bet against the market. The market's moving averages MA5-10 have stabilized and formed support, directly penetrating the middle track. This interest rate meeting has triggered a release of bullish sentiment in the market, driving prices upwards. Attention should be paid to several key resistances above: the Fibonacci resistance at 89,500 and the top resistance of the daily range at 92,000. From the current perspective, the likelihood of continuing to test the upper track of the daily chart is greater!
As for today, the operation is quite simple! The overnight surge indicates that the next day should follow the trend and continue, and this sentiment suggests a breakthrough to new high points. The bulls have entered a very strong upward mode, and one just needs to follow the trend; it will not stop abruptly in the short term.
In short-term trading, the early morning rise in the 86,000 area is somewhat aggressive, and a pullback to the previous support-resistance conversion area at 85,000 is relatively safer. At this stage, market sentiment has already spread, and if it strongly breaks above 87,000 again, one might consider directly going for the 89,500 area.
Therefore, for short-term trading, one should directly go long in the early morning when Bitcoin pulls back to the range of 85,300-85,800, with a target looking towards 88,000-89,000. If it breaks out, continue to watch for extension! In facing the market, one must follow the trend, assess the situation, and never be blindly stubborn! Wishing everyone smooth sailing, always present, with great market feel; those who understand, understand!
