Bitcoin's market yesterday showed an upward exploration, peaking at 82800 before facing selling pressure and retreating, with a continuous intraday decline of nearly 2,000 points. Are you panicking about the pullback? Do you feel like it might drop more, and think about shorting? Do not be deceived by the current illusion. A pullback in the face of a trend is an opportunity to be bullish.

The weekly level still shows a bullish rise. The recent pullback is just a normal correction after the price increase. Would you dare to chase if it doesn’t fall? The decline is just a foundation-building phase to bring in buyers, and since the MACD continues to expand, further increases just need time to convert space.

At the four-hour level, after reaching a peak, the price has gone through four downward movements overnight for a pullback. It has now dropped to near the middle band but has not broken below it. As long as the middle band support holds, these are bullish positions. Even if it breaks, the most it would do is fall to the 79000 level before bouncing back. Therefore, regarding the current situation, I still firmly believe in a pullback showing a bullish pattern.

It is recommended to be bullish in batches around the lower 80800-80400 area, with a target of breaking through 82800 and 83500. The points are for reference only.

Follow the public account, to ease worries, only Jiang Wei, a treasure analysis blogger with high emotional value, offers free trading education. In the turbulent trading market, he brings stability and clear guidance, having navigated through three cycles of bull and bear markets and years of trading experience. He specializes in naked K, trends, Dow theory, Gann, harmonics, Chen theory, wave theory, and other technical analyses, combining them into his unique insights.

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