Friday, Bitcoin Price Trend Analysis

Bitcoin's price has been moving in a small, unilateral pattern recently, rising without looking back and falling just as steadily. As I mentioned earlier, the market is in a monkey market phase—oscillating up and down. This kind of movement is a blessing for many retail investors. Everyone has a chance, as long as position management is appropriate, not chasing highs or selling lows. Even if caught in a trap, it's only temporary.

The weekly chart still remains above the middle band, as long as it doesn't break below the middle band, the bullish sentiment persists. The daily chart also shows a bullish trend. Don't be fooled by the current pullback, because the recent upward move has been quite significant, with little retracement during the rise. This pullback is just a normal correction and consolidation during the upward process.

On the four-hour chart, the price is now testing the lower band support. Therefore, the main strategy is to go long, as no one would chase a short at support, just as I said earlier—don't chase highs or sell lows.

For intraday trading, look for a gradual rise in the 79,200-78,800 region, with a short-term target of 80,500, and if the support breaks, continue to watch around 82,000.