Sunday Afternoon Bitcoin Latest Market Analysis
Reviewing yesterday evening's long position strategy, it was mentioned that the short-term trend-following light position attempt was successful in reaching expectations, with the market slowly rising to around the 96400 line before facing resistance and falling back, accurately predicting a pullback to the low point around the 95500 line. The market's fluctuation last night was not too significant, with a back-and-forth between long and short positions. Currently, the market is fluctuating around the 95900 line. We maintain a long position strategy for the afternoon, and in the short term, we are waiting for a breakout near 96000 where we can take a light short position first. Our long position layout will wait for a pullback to the expected position before further layout.
The 4-hour chart for Bitcoin is beginning to enter a contracting fluctuation range, which is also a parallel contraction zone of the Bollinger Bands, with the price fluctuating within the upper and lower bands. The upper band is around 98000, while the lower band support is near the 93000 key level, indicating a wide fluctuation range. It is expected that a breakout will be difficult to form during the daytime. Short-term operations today will revolve around making high and low trades within this range, and near the lower band, we will combine with the hourly chart pattern for short positions.
Operation Suggestions:
Long in the 94800-95300 range, target 97000.
