Bitcoin experienced a pullback yesterday. I mentioned that a pullback is a trap for shorts, and as I said, after dropping, it continued to recover prices and, at 4 AM, reversed dramatically, hitting the key level of 75500. It tested the heavy resistance point of 76000 again, which has been tested multiple times. If an effective breakthrough cannot be achieved, the price may continue to fall and move sideways.

The current price on the four-hour chart is still operating in the upper middle track. The Bollinger Bands have gradually begun to open upwards, and the upward channel is gradually opening. The reason it has not broken through to rise yet is that the price needs to wait for support from the bottom moving averages before it can rise better, much like building a house; it can only be built higher if the foundation is stable and firm.

Currently, it is moving sideways upwards, and it's best to go long following the pullback to support points. After pulling back to 73800-73500, continue to view it bullish in batches, with the first target still at 76000. If it can effectively break through, then look at around 77800.

Follow the public account, how to resolve worries, only Jiang Wei, a treasure analysis blogger with high emotional value, sharing trading education for free, bringing stability and clear guidance in a restless trading market, traversing three cycles of bull and bear markets and years of practical trading experience, specializing in naked K, trends, Dow Theory, Gann, harmonics, and wave theory among other technical analyses, gathering into unique personal insights.

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