Monday, Happy

Overnight Bitcoin pulled back from a high, forming a double top resistance above, then declined, with the overall price maintaining a high-level range oscillation. So for the current trend, it is still advisable to follow the bullish momentum.

The four-hour price failed to continue above the upper band, forming a bearish candle and pulling back. This wave requires attention to whether it can break below the midline support in the short term. If it does not break, the price will continue to bottom out and rise; otherwise, it will continue back near the 80k level. Based on the current market observation, a break downward still requires time to convert space, and once it goes down, it will be our opportunity.

After the weekly K-line broke through the midline stage again and closed with a bullish candle last week, it shows that the upward momentum is still very strong. This is why the main outlook remains bullish, after all, the overall trend is bullish.

For intraday trading, it is recommended to look for buy opportunities in batches around the bottom area of 80,800-80,300, targeting near 82,400. Once reached, a long-term target can be set at around 85,000.