5.31 Sunday Morning Bitcoin Latest Idea: Pullbacks Continue to Go Long

Yesterday, after a small pullback that held at 731 support, the bulls set sail and pushed higher in a steady range-bound climb. As of now, the high reached 741. Yesterday, the bullish view from 731 directly unlocked the potential for a 1,000-point move.

At present, in the short-term rhythm, the pullback strength is gradually weakening. Although multiple attempts to break above 740 were not sustained, at this point you must not treat this area as short-term resistance. On the hourly chart, Bitcoin has been moving higher in a choppy upward trend, while the Bollinger Bands are expanding upward. On the smaller timeframes, it has been holding above the middle band, with no pullback momentum in the short term. For the short term, first look for a rebound.

Intra-day reference: 735. Buy in batches in the 730–zone. Target: 750. If broken, continue to look higher at 760–770.