After stabilizing at the $93,000 mark, Bitcoin bulls once again stepped up their efforts, driving the price into a strong rally. We accurately grasped the market rhythm, and our long position strategy at $93,200 successfully yielded over 800 points of substantial profit, while the simultaneously entered Ethereum long position also garnered a respectable 40 points in profit, fully demonstrating the trading wisdom of following the trend. The current price has strongly broken through the $94,100 mark, showing a short-term acceleration in the upward trend.
From a technical perspective, a standard ascending channel has formed at the 4-hour level, with the moving average system showing a bullish arrangement. The hourly K-line has continuously closed in the green with limited pullback, indicating strong market buying pressure. In terms of volume-price coordination, trading volume moderately expanded during the breakout, the MACD indicator formed a golden cross above the zero line, and the RSI indicator remains in the healthy zone around 60, all supporting the continuation of the trend. In the short term, the initial target above is set at the previous high of $95,000, and after breaking through, it is expected to test the range of $96,000-$97,000. If it stabilizes above $95,000, it could accelerate toward the $100,000 mark.
In terms of operation, it is recommended to primarily focus on buying on pullbacks, with light positions in the $94,000-$94,300 range. Cautious traders may wait for a stabilization near $93,800 before entering, with a strict stop-loss set below $93,500. Overall, as long as the price maintains above the support level of $93,000, buying on dips remains a favorable strategy, with a key focus on the breakout situation at the $95,000 mark.
