Sunday Morning Jingyi Operation Silk Exposure Analysis
The Bitcoin K-line chart forms a W-shaped double bottom structure, which is usually seen as a significant bullish signal. However, despite the substantial rise in US stocks and a flurry of positive news, Bitcoin has declined instead of rising, and the trend seems more like a washout of leveraged positions.
Looking back at yesterday's market conditions, the price continued to decline, rebounding after hitting a low of 1025. Under the current market conditions, if Bitcoin can effectively break through and stabilize above the 1036 level on an hourly basis, the bullish sentiment is expected to continue; conversely, there is a high probability of testing the 1025 support level again, and it might even break below it. Therefore, it is recommended to focus on high leverage on dips.
Trading Suggestions:
BTC Range 1033-1038 for leverage, target looking towards 1025-1007.
