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$BTC Overnight Fluctuation! The subsequent trend is shrouded in uncertainty, should we be bullish or bearish?
1. Market Review
Overnight, BTC experienced a surge, reaching a peak of around 84,300. It is worth noting that compared to U.S. stocks, Ethereum, and other cryptocurrencies, Bitcoin was the only one that surged significantly. However, the price has begun to pull back.
2. Technical Analysis
① Daily Level: Bitcoin shows signs of breaking through the downward trend line, but further confirmation is needed based on the closing conditions on Saturday and Sunday to determine if it is a valid breakout.
② 4-Hour Level: The MACD indicator shows a bullish crossover of the dual lines over the green bars, but the green bars are diverging while the trading volume is in a shrinking state. In addition, the KDJ indicator is in the overbought area and shows a downward turning trend.
③ Hourly Level: The divergence of the green bars in the MACD indicator is more pronounced, and the KDJ indicator has formed a death cross pointing downward.
3. Trading Strategy
From the current technical perspective, the operation should first look for a pullback. Considering that weekend trading volume typically decreases, it still has some reference value for the trend. One could operate with the idea of shorting first and then going long, waiting for the price to pull back before selectively buying in batches on the rebound. However, the crypto market is extremely risky, and price fluctuations are difficult to predict accurately, so everyone should decide cautiously and always be prepared for risk management.