$BTC Evening Bitcoin Roadmap and Recommendations

Bitcoin's rapid rise, why is it rising so sharply? Because the bears are even more aggressive than Bitcoin! Playing hard to short, if you don’t blow up the bears, they won’t dare to short. Only watching Bitcoin rise won’t lead to a big correction. Currently, Bitcoin is preparing to break through the resistance at 82,201. If it can break through that resistance in one go, it will test the 83,485 level. Still daring to short? Bitcoin is making a new high before pulling back to test the support at 80,830, indicated by the white arrow below, and after testing the support at 80,830, it formed a Morning Star pattern. Then it surged upward to a secondary high at 81,780. After reaching the secondary high, it pulled back again to the lower boundary of the triangle and formed an isolated low, indicated by the yellow arrow below, before finally making a new high. All signs indicate that Bitcoin has no intention of pulling back. For example: if you have a short at 81,000, when Bitcoin pulls back to test 80,830 and forms a Morning Star, you should stop loss and exit your short position, rather than holding on. If it really wants to pull back, it would have gone down on the first test of 80,830, not just tested support and rebounded again. Today, just remember one key level: as long as Bitcoin doesn’t break below 80,830, you have no chance to short. Only if it breaks below the red box area of the hourly trend will the bullish trend be broken, and a continuation of the correction down to 79,461 becomes possible. Without breaking 80,830, there’s no chance to short, and shorts can’t be held.
Currently, on the hourly chart, there is also a risk point: the price is rising, but the MACD is not following and shows slight divergence. Although divergence on the hourly isn’t very significant, caution is advised. After all, the price is at a high level now, and a 1-2% fluctuation could mean a few thousand dollars drop.

I also don’t dare to chase longs on Bitcoin’s right side. If you want to go long, wait for a pullback to around 80,649! If it doesn’t pull back, just watch. At least you won’t lose money. If it breaks below 80,818 with volume and then rebounds without recovering, stop loss on the short position.
On the 4-hour chart, if it breaks below 81,319, look down to 80,855-79,810.

On the daily chart, Bitcoin has broken out of the box range and formed a bearish butterfly pattern. The D point of the butterfly pattern is the potential reversal zone, corresponding to the price of 84,852. This level is worth considering for a short position on the left side. Even if you make a mistake, you should still take the trade because once this level is broken, it will head toward 90k. Bitcoin will definitely pause at this level; it’s not about how much it will fall, but a pullback is still possible. Those looking to short on the left side should pay attention to this level.
$BTC