Tuesday, limited pullback, first long then short during the day

From the current perspective, yesterday Bitcoin repeatedly tested lower levels but still did not show a significant pullback space. At the same time, the strength of the pullback gradually weakened, with low points being raised step by step, which is enough to indicate that the downward pressure is limited. Therefore, today's thinking is to first look for a continuation of the bullish action, and then short after being under pressure.

In the 4-hour chart, the Bollinger Bands are narrowing, and the operating space is limited. Although there is fierce competition between long and short in the short term, there hasn't been any substantial breakthrough action. Instead, it oscillates back and forth around the middle band. However, from the overall structure, the bullish trend is obvious, and any pullback will be absorbed by the bulls. Therefore, the idea is still to go long on the pullback.

For going long on Bitcoin, refer to the 945-940 area, looking at the 955-960 range, and for a breakout, look at 970.

For going short on Bitcoin, refer to the 957-962 area, looking at the 940-935 range.