Last night’s fierce battle in the Bitcoin market was like a thrilling financial war. As prices approached the critical defense line of $106,700 like free fall, market sentiment instantly tightened to a critical point. This ‘copper wall and iron bastion’, forged through two weeks of fluctuations, has long been ingrained in investors' minds, becoming a psychological fortress contested by both bulls and bears. Notably, the bear's offensive faced fierce resistance here; after briefly breaching the defense line, it quickly collapsed, losing the momentum to sustain its strength like a strong bow at its limit. Unlike the previous one-sided downward trend, this time the market has made a sharp V-shaped reversal, akin to a flash of lightning in the dark, heralding the quiet gathering of bullish power in the undercurrents.
The early morning candlestick trend resembles a suspenseful drama filled with ups and downs; the brief appearance of small bearish candles is gradually engulfed by the counteroffensive wave organized by the bulls. Those continually rising small bullish candles are like ropes tightly held by climbers, making upward breakthroughs step by step, vividly illustrating the exquisite trend of 'rapid rise after small declines.' Whenever there is a price pullback, it quickly finds support, as if there are invisible hands propping it up. The changes in trading volume serve as the best annotation for this transition between bulls and bears; the waning volume during declines and the surging volume during rebounds resemble a sudden transition from a bleak winter to a blossoming spring, visually showcasing the transformation of market sentiment from panic and despair to hope.
Under the precise microscope of technical analysis, the bullish stance of Bitcoin becomes increasingly clear. On the 4-hour candlestick chart, prices have successfully conquered the midline of the Bollinger Bands, a battleground for traders; former resistance has instantaneously transformed into dynamic support, steadily rising at a rate of $300 to $500 per day, like an advancing steel defense line. The moving average system has also sounded the victory anthem for the bulls, with the 5-day and 10-day moving averages crossing upward sharply, while the 20-day moving average is poised to turn upward, collectively constructing an unbreakable ascending pattern. The MACD indicator's double lines completed a golden cross below the zero axis, charging towards the zero axis like a waking beast, with the area of the red bars continuously expanding; the divergence pattern formed by the RSI indicator in the oversold region further seals the authority of this bottom reversal.
Based on deep insights into market trends, it is undoubtedly a golden period dominated by bulls. Investors can grasp the opportunity for a pullback; when prices stabilize in the range of $107,800 to $107,000, it is advisable to take small positions for long trades, aiming for targets at $109,500 and $111,000. When prices reach critical resistance levels of $110,000 to $111,000, one might also consider attempting short positions, with downward targets successively set at $107,000 to $105,000. In this market game full of opportunities and challenges, only by keenly capturing trend changes and strictly adhering to trading discipline can one progress steadily in the ever-changing cryptocurrency waves. Editor shares: what will the future price trend of Bitcoin be? What are the risks in the Bitcoin market? What are the strategies for Bitcoin investment?
The market is constantly changing, and we are closely monitoring it to seize new entry opportunities. Like and comment to traverse the bull market together and stabilize in the market to capture this round of great opportunities.
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