🚀BTC surged and then pulled back, Binance players quickly check the key operation points!
Just monitored the BTC/USDT trend, it was really exciting! It surged from 118082.99 all the way up to 119192.00, and then pulled back, currently hovering around 118945.99. Let's analyze together:
Market Interpretation
Trend Perspective: The overall trend was in a state of oscillation and upward movement, steadily climbing based on short-term moving averages. However, after reaching 119192.00, a pullback occurred, indicating a certain level of selling pressure above. But as long as the price can stay above 118500, the short-term bullish trend has not been broken.
Volume Perspective: During the surge, trading volume significantly increased, indicating that capital was entering the market. However, during the pullback phase, the volume did not excessively increase, suggesting that the short selling pressure is temporarily limited.
Operation Suggestions
Spot Holders: If you are a long-term bullish spot player for BTC, you don’t need to worry too much about short-term fluctuations. As long as BTC does not fall below the key support level (such as the 117000 - 117500 range), you can continue to hold and wait for the next wave of market movement.
Contract Traders: Currently, the price is oscillating at a relatively high level, with a certain divergence between bulls and bears. Aggressive players can try to go long with a small position, setting a stop loss below 118500; conservative players can wait and see, and only act when the price clearly breaks above 119192.00 or drops below 118500.
Risk Warning
The cryptocurrency market is ever-changing, and BTC is influenced by various factors such as news and market sentiment. Everyone must set proper stop losses and take profits, control their positions, and avoid blindly chasing peaks or selling lows. Closely monitor market dynamics and adjust trading strategies in a timely manner.
