The trend of BTC is just as the article suggested yesterday. After the completion of the second upward structure on the 30-minute level, it broke through to set a new high of 52985. After breaking the new high at 9:30 last night, it quickly dropped to the current price of 52281.
As the trend has progressed to the present, it has been in a one-way upward trend since the beginning of February until last week, which is a sign of the strong bullish trend. However, starting from this week, there are signs of a bearish counterattack. Both bulls and bears have shown significant divergence between 51000 and 53000, creating a consolidation pattern.
Everyone in the market understands a truth: there is no market that only rises and does not fall. When it rises too much, it will fall. The key is how to grasp the turning point of the market!
From the 4-hour chart, it can be seen that as the price sets a new high again, two pen center upward trend divergences have appeared within the second center, indicating that the upward trend on the 4-hour chart can end at any time and prepare for a pullback. Therefore, no matter what, above 52000 is not a good opportunity to chase higher, with a very poor risk-reward ratio. The next entry opportunity will be after the appearance of a downward segment on the 4-hour chart, followed by a divergence or consolidation divergence on the next level. Patience is needed! Long-term low-cost chips should remain unchanged. As for whether to short, this account believes that it can be attempted in the short term, but it is essential to use a stop-loss. It is best to take advantage of the bull market to go long with the trend during the pullback.
Looking at the 30-minute chart again, the second center of the 30-minute upward trend has been constructed and broken to a new high. After breaking the new high, it is evident from the MACD that the volume is insufficient. It is highly probable that both bulls and bears will oscillate within the center range in the short term until a winner is determined. Whether the market will choose to quickly pull back in exchange for space or digest through consolidation remains to be observed.
If you are interested in the "Chen Theory" and want to obtain learning materials for free, watch public live broadcasts, participate in offline training camps, improve your trading skills with the "Chen Theory," build your own trading system to achieve a stable profit goal, and use the "Chen Theory" to timely escape the peak and buy the dip, you can scan the code to follow the public account below, private message to obtain and add the WeChat of this account to join the group for learning!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
