BTC Technical Analysis and Strategy Suggestions
Bitcoin has finally broken through the upper resistance level of 104667. Although the breakthrough process was turbulent, once it stabilized above 105400 (hourly closing price), a right-side long strategy can be initiated, with stop loss upon breakout.
If the 104667 level is broken with volume and does not recover, a right-side short can be initiated, with stop loss if it recovers that level — this position has changed from resistance to support, and losing it would require caution for downside risks.
Key Point Operation Guide:
Long Opportunities: If 103299 shows a false breakdown and recovers, a light position can be taken long, with stop loss set at the low point of the false breakdown or 102651; conservative players can set up long positions at 101493, with stop loss at 100706.
Short Opportunities: If the price touches 107294 and shows a 2B false breakout, a light position can be taken short, with stop loss upon stabilization above 108163.
Trend and Targets:
Hourly breakout at 105913, looking at 107294-108204. Whether it can challenge the previous high requires positive catalysts;
4-hour level breakdown at 103247, targeting lower at 102339-101447, current support at 104667 is questionable in stability.
Risk Warning:
If the hourly yellow arrow points to a bullish K-line that is engulfed by a bearish line, a "high hanging restoration" trend may occur, meaning that the upward trend may retrace. Operations need to closely monitor volume changes and strictly maintain stop losses.
Key Ranges:
Resistance: 105412-105982-106489
Support: 103297-102614-101461