Yesterday, Bitcoin's icon chose to break above the range, reaching around 97450 at its highest. After breaking above the range, this blog did not execute any trades, missing out on this two to three thousand point opportunity. From 94500, there is roughly a 3000 point difference. The reason for not trading after the breakout is that the upper space is not large, and the risk-reward ratio is very low. The pressure levels on the daily and weekly charts are between 97000 and 99000. There were also many trapped positions at this level previously.

Currently, from a 4-hour perspective, although there is a MACD golden cross, due to the MACD death cross on the 1-hour level, there will be a short-term pullback here. However, it is important to note that if Bitcoin declines and the 4-hour MACD crosses down again, it will create a top divergence icon, triggering a wave of correction. Therefore, it is better to continue observing.

From the daily chart, the 20-day line has reached 89600. Currently, after breaking the range, the daily trend is also bullish icon, but it needs to continue to rise to keep the MACD from crossing down. We will continue to observe in the next couple of days. If the weekly chart closes positively this week icon, it will have risen for 4 weeks, and next week will be a turning point week.

After breaking the range here, as it rises, many people will likely feel anxious, thinking they will miss out. According to the range breakout trading strategy, it is possible to chase long positions on the upward breakout, but the stop-loss should be placed above the range. This is how short-term trading works; follow the breakout with a stop-loss. For medium-term trading, one must consider the risk-reward ratio, whether the upper space has enough cushion, and whether the downside correction space is larger than the upside space.

Summary:

1. Bitcoin breaks above the range, expecting a final rise, with upper daily and weekly pressure levels at 98000 to 99000.

2. Medium-term buying on dips requires continued waiting.

3. Short-term 1-hour level has a pullback and consolidation demand.