The price rebounded from the low of 68868.1 in the early morning, forming a clear oscillating uptrend structure with bulls in control. Currently, it is in a consolidation phase at high levels after the rebound with no clear death cross signal yet. Short-term trend is bullish biased.
However, the current price is in the high range after the rebound. After continuous upside attempts, bullish momentum has weakened somewhat, making the probability of a pullback from highs extremely high. This is a typical "pressure after gains with strong pullback demand" state, with the possibility of retesting support at any time. Trading strategy: primarily short at highs, with long positions as secondary approach.
Pullback to 70000-70500 range for long positions, targeting 71350, 71850.
Rebound to 71350-71850 range for short positions, targeting 70500-70000 breakdown and then 68500$BTC $ETH #贵金属领涨
Afternoon Bitcoin Market Analysis
The price rebounded from the low of 68868.1 in the early morning, forming a clear oscillating uptrend structure with bulls in control. Currently, it is in a consolidation phase at high levels after the rebound with no clear death cross signal yet. Short-term trend is bullish biased.
However, the current price is in the high range after the rebound. After continuous upside attempts, bullish momentum has weakened somewhat, making the probability of a pullback from highs extremely high. This is a typical "pressure after gains with strong pullback demand" state, with the possibility of retesting support at any time. Trading strategy: primarily short at highs, with long positions as secondary approach.
Pullback to 70000-70500 range for long positions, targeting 71350, 71850.
Rebound to 71350-71850 range for short positions, targeting 70500-70000 breakdown and then 68500$BTC $ETH #贵金属领涨