Monday morning, Bitcoin analysis!

Thanks to Chuan Chuan, as Bitcoin approaches a new high, the risks are increasing, with public opinion monitoring data close to a historical high of around 78%! A double top is nearing, and now we are in a game of negotiations between China and the US; we can only trust half of what Chuan Chuan says! The Chinese side's position is the most straightforward aspect of the final result! At this stage, the odds have already decreased significantly. It's still the old saying: be greedy in fear and cautious in greed. Although many people may not like what we say, based on data and news, we strive to speak the truth! Manage your positions well!

Yesterday, Bitcoin once again welcomed a surge in bullish volume, but after failing to break the 105,000 level, it began to pull back under pressure, and the current price has returned to around 103,700, fluctuating. Last week, after a long period of contraction and consolidation, with the weakening of the US dollar, the price was boosted to stabilize and break through the initial high point of the week, continuing to reach new highs in the short term, and the daily line closed steadily at a high position. Temporarily, the trend looks to continue upwards, with a back-and-forth rhythm, maintaining an upward fluctuation.

From a technical structure perspective, the daily line level yesterday closed with a small bullish candle, with a K-line pattern of consecutive bullish movements, and the price is above the moving average. The sub-chart indicator is running with a golden cross, and the overall upward trend is very obvious, whether in terms of current technical trends or news stimuli, it is strong. However, we still need to pay attention to two issues: First: Watch for price retracements and correction trends, so manage risks well; Second: The price correction trend, as the current price has deviated from the moving average, the daily line may return to the moving average support position around the 102,300 area; in the short term hourly chart, last night the price surged to the 105,000 area under pressure and pulled back. The current K-line pattern is a series of bearish candles followed by a bullish candle, indicating a necessary correction in the short term, with the lower support at the 103,000 area, so in my short-term operations, we should focus on buying low.

Bitcoin morning suggestion: Retrace to the 102,500-103,300 area! Target looking at the 105,000 area, and the continuation is 106,000!

Finally, emphasize, be cautious and light-hearted!