The essence of the $BTC transaction lies in following the trend — breakouts and follow-ups, taking profits under pressure, and reversing at key levels. The market is always right; only those who are flexible and adaptable can sustain profits. After the price of the currency fell from a high of 110504 to a low of 109020, it rebounded again to oscillate around the key level of 110000. The strategy suggested by Yunduo at midnight near 109300 also shows a potential 1000-point range based on the market situation. Currently, the price of the currency has slightly retreated to around 109650 for consolidation.
The 4-hour level shows a healthy adjustment trend, with the MACD maintaining a golden cross above the water level but the red bars shrinking, and the RSI falling from the overbought zone to a reasonable range of 65. The middle band of the Bollinger Bands at 108800 serves as strong support. Key resistance levels to watch are the neckline at 110200 and the trendline resistance at 110800, while support below is at 109000 and the daily trendline at 108800. It is essential to keep an eye on early trading in US stock futures and capital flows, as continuous failure to break through 110200 could form a double top structure, and if it falls below the critical support at 109000, it may trigger a deeper correction. It is recommended to maintain a flexible mindset to respond to market fluctuations.
Bitcoin suggestion: Buy on dips in the 109300-109500 range (stop loss at 108800), target 110200-110800; if 110200 breaks, chase the buy up to 110800; upon first touch of the 110500-110800 area, consider trying a short position.
