Monday Afternoon Thoughts: Latest Bitcoin Market Analysis
Looking back at the long position strategy provided during noon, in the afternoon we expected a pullback near the 94000 level, followed by a rebound reaching around the 94700 level. We decisively positioned ourselves in the live market and captured a profit of 718 points before exiting. Although the intraday market was mainly volatile without significant fluctuations, our morning and noon long strategy was precisely forecasted, yielding nearly a thousand points in total. Those who followed should have gained quite a bit. Currently, the live market is oscillating around the 94500 level, and we still maintain a pullback strategy this afternoon.
The current market shows a short-term high and then a pullback, with the price possibly entering a high-level oscillation mode. The market needs time to digest the fluctuations. In the short term, focus on the downward resistance near 93500; if the price effectively breaks below this level, we can look to short down to around 92000; if it fails to break through, it may find support at lower levels and rebound. Overall, the trend remains quite clear, still mainly characterized by weak oscillation and consolidation. The upward pattern remains intact and has not changed due to a single pullback. The greatest impact on the intraday market is that breaking the high has increased the difficulty, but it does not affect the long position strategy. Currently, the market is also beginning to adjust due to the pressure from the upper track. This is even more evident on the four-hour chart, where multiple dips have led to rebounds influenced by this position. In the short term, this is still a watershed for the bulls, and we can continue to maintain a bullish outlook.
Afternoon trading recommendation:
Buy in the range of 93800-94300, target 96500.
