The current trend of Bitcoin still shows a fluctuating pattern. Last week, it was mentioned that there was a bullish outlook above 76,000, and over the weekend, the market corrected itself, just making a direct move upwards. The bulls perfectly exited their positions. For the current market, whether trading on the left side or the right side, one can achieve effective results.
On the daily chart level, the price has dropped to the lower support, then rebounded with a bullish candle. For the price to continue progressing upwards, it still needs to break through the pressure position of the short-term middle track; otherwise, the price will remain oscillating in the mid-to-lower track area. However, from the indicator signals observed, the bears are beginning to show a shrinking pattern, and there may be a pullback in the short term, but ultimately, upward movement will be the main direction.
On the four-hour level, the Bollinger Bands are narrowing downwards, and the K-line has just produced a large bullish candle, directly breaking through the upper track position. This position may face some pressure for a pullback, and then break out with consecutive bullish candles to rise further. During this phase, do not blindly chase the rise, but rather wait for a certain pullback before selecting to go long.
It is recommended to look bullish in batches during the intraday pullback in the 76,800-76,500 range, with a target towards the 78,300 position. If it breaks through, it can continue to look up to the 80,500 position, with these points for reference only.
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