Today's market interpretation - BTC
Yesterday, amidst the optimistic voices, the risks were highlighted.
The price briefly broke through the upper limit of the range at 71,300 and reached a high of 71,758.
That is to say, our short-term chips can easily and perfectly stop profit.
For the short-term (below 1H), 71,300~73,777 is the previous high area.
In addition, the internal structure and energy did not follow the recent upward surge,
which can easily lead to a trend similar to last night's high-rise and sharp drop.
Being cautious in chasing highs is an essential trading quality.
Pay attention to 69,788~69,090 in the short-term low-multiple area.
From the 4H (mid-term) level and above, the market is still on the bullish side of the trend line. I am not pessimistic about the medium- and long-term trend, and it is allowed to continue holding positions in the medium and long term. The probability of the daily line going up and breaking the high after 3~5 days of consolidation is high (please refer to the standards given in yesterday's video analysis for true and false breakthroughs)!
