Bitcoin broke through the 71400 level yesterday, then experienced a pullback, perfectly corresponding to the idea I mentioned yesterday of rising first and then falling. Now the high points on the chart are moving up, and the low points are rising. The MACD on the daily level is above the 0 axis with a golden cross, and the red bars continue to expand, with bullish momentum increasing.
The RSI is in the 60-64 range, a healthy bullish zone, not overbought, and still has upward space. The trading volume increased when breaking through 70000, and decreased during the pullback, with limited selling pressure and strong buying support. The price is above the middle band of the Bollinger Bands and moving towards the upper band, with the opening expanding and the trend strengthening.
Short-term support to watch is the break and pullback area of 69300-69500, with strong support at 68000-68500 on the daily level. After six consecutive weekly red candles, it has turned green, stabilizing the decline, with medium-term downward momentum weakening.
For intra-day operation, I suggest buying in batches on the pullback at 69300-69500 with a bullish outlook. First target: 72000-72500, second target: 74400 Fibonacci retracement level.
If it breaks below 68000 with significant volume, be cautious of a weakening trend and pay attention to the risk of a pullback. The above thoughts are personal suggestions for reference only.
Follow the public account, to solve worries, only Jiang Wei, a treasure analysis blogger with high emotional value, shares trading teaching for free. In the frenzied trading market, he brings stable strength and clear guidance through three cycles of bulls and bears and years of trading experience, specializing in naked K, trends, Dow Theory, Gann Theory, Harmonics, Chan Theory, Wave Theory, and other technical analyses, compiling them into personal unique insights.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
