🚀Can Bitcoin break through its previous high again? Be wary of this potential false breakthrough📈
In the world of digital currencies, Bitcoin is undoubtedly the most eye-catching one👀. As the market fluctuates, every investor is paying close attention to whether Bitcoin can break through the previous high of $64,480 again. But behind this, there is a risk that cannot be ignored - the possibility of false breakthroughs.
By analyzing the trend of Bitcoin, we found that it has experienced three pull-ups and is in the sideways consolidation stage after the third pull-up. This model reminds us that although the general trend is bullish and the current stage may be a relay upward structure, we have to be wary of an important phenomenon: the false breakthrough of 64480.
False breakthrough is a term in technical analysis, which refers to when the price briefly breaks through an important resistance or support level and then quickly falls back, failing to continue the movement in that direction. If this happens to Bitcoin, then whether it is a monthly, weekly or daily line, it will herald a major correction.
But how can you effectively identify and respond to this situation? First, stay alert and watch price action near 64480. If the price does not continue to rise significantly after a breakthrough, but quickly falls back, it may be a false breakthrough signal.
All in all, although the general trend of Bitcoin is bullish, while pursuing profits, we should also remain sensitive and vigilant to risks. Through careful analysis and prudent strategies, we can better grasp every investment opportunity. 🔍💡
