The big rise catches you off guard, the sharp drop takes you by surprise, and the consolidation makes it hard for you to let go. Every moment of entanglement and complaint results in missed opportunities and regrets. The mindset you have determines the results you get, and the results you get determine the quality of your life.
Bitcoin consolidated over the weekend, and as mentioned yesterday, Monday was expected to see an increase. Just as predicted, the price slightly retreated overnight and then directly tested the bottom before rising sharply, reaching the 748 position, indicating a clear upward trend.
On the four-hour chart, the Bollinger Bands have started to open upward. The early morning candlestick formed a large bullish candle that engulfs the previous bearish candle, creating an engulfing pattern. This signal represents strong bullish sentiment, and the MACD indicator is gradually shifting towards a bullish volume pattern. Based on various signs, we can conclude that the current trend is strongly bullish.
On the daily chart, the candlestick has also broken above the middle line and is about to test the upper line. As long as this candlestick closes firmly above the middle line today, the next step will be to test the upper line, which may lead to even higher price movements. However, an increase takes time to transition the space, so a pullback today should be viewed positively.
It is recommended to be bullish around 63600-63400 on pullbacks, with a short-term bullish target near 65200 and a long-term bullish target around 67100. These levels are for reference only.
Follow the public account, 'What Can Solve Your Worries? Only Jiang Wei.' A treasure analysis blogger with high emotional value, sharing trading education for free, bringing stable power and clear guidance in the volatile trading market, with experience spanning three bull-bear cycles and years of trading practice, specializing in naked K, trends, Dow Theory, Gann, harmonics, fractals, wave theory, and more, consolidating into unique personal insights.
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