Bitcoin makes a strong comeback; can it maintain stability above?
Does everyone remember what I said on Saturday? I mentioned looking directly at 114,000. In just two days, it has rebounded. If you haven't seen it, you can check the previous post. My analysis during this period has been incredibly accurate, and the state is very good. If you are still in a loss phase, it might be worth waiting and walking alongside Jiang Wei; perhaps you will have unexpected gains. Let's gather quickly and meet at the happy base camp. Next, we will analyze the current market.
On the four-hour level, the previous high point is around 116,000. The morning saw an upward push, but unfortunately, it couldn't break through. To break this level, there may be a pullback today to gather strength for a breakthrough. If there is a short pullback today, it presents a bullish opportunity. Why do I say this? You will understand when I analyze the daily chart. Today, we should focus on the 116,000 level, as this will determine whether there is a possibility of continuing to rise to 120,000.
On the daily level, the price has broken through the middle track and stabilized. From a larger perspective, there is basically no pressure above, except for a minor resistance. Unfortunately, it is not a point that can block the price from rising, and the MACD indicator is starting to show bullish momentum, so a continued rise today is inevitable.
Therefore, we can look to buy in batches around the 114,200-113,800 area, targeting 115,500, and if it breaks through, looking towards the 117,500 level, which is for reference only.
Follow the public account, "How to Relieve Worries, Only Jiang Wei," a treasure analysis blogger with high emotional value, sharing trading education for free. In the restless trading market, he brings stability and clear guidance, traversing three cycles of bull and bear markets with years of practical trading experience. He specializes in naked K, trends, Dow theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, gathering them into unique insights.
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