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Stop looking in the wrong direction! After Bitcoin breaks through the key trend line, the bulls are stepping up their push, and the previous high resistance is within sight. Should we follow the trend to hit new highs or turn back for a correction? This article clarifies the key levels and trading strategies.
Bitcoin has currently broken through the downward trend line, and next it aims to challenge the resistance zone between 81,650 and 82,100. Breaking through this area would give the chance to reach the previous high of 82,800. If it fails to break through, continuing the upward trend will be difficult.
Currently, the market is experiencing a stair-step rise, with both lows and highs steadily increasing, clearly showing a breakout and retest pattern before further upward movement. After breaking 80,800 and retesting 80,350 to stabilize the rebound, it then broke 80,855 and retested support before continuing higher. As long as it does not fall below the support zone of 80,800–80,350, the chance of a pullback is relatively small. In the early hours, the price mostly stayed above 80k without accelerating downward, indicating the market does not want to fall. Hold your long positions steadily, and avoid forcing short positions.
The area near the previous high is a key reversal point. Brothers who want to open short positions early must watch the actual trend. If there is a genuine breakout, don’t risk opening shorts; if the price struggles to push higher and a false breakout occurs, you can lightly open short positions to profit from small pullbacks. Never operate blindly based only on levels.
From the daily chart, if this week can break through and hold above the previous high, the next target is 84,857, which could open up a larger upward space. If it fails to break through, a double-top pattern may form. As long as it does not fall below the bulls’ trend line, the bullish trend remains healthy.