Bitcoin Short-term Market Analysis


Entry Point: Long near 60040 on pullback
Target Range:
First Target🦅: 60600-60800 (Take half position profit first)
Second Target🦅: 61200-61334 (Hold for further gains after breakout above previous high with volume)
Stop Loss: 59500
Market Logic
The market has been moving up in a stepwise pattern from the low of 58326, with constantly higher lows. After rising to 61334, it only underwent a short-term technical pullback for correction. The price retraced to the middle Bollinger Band and received steady buying support. Bears are unable to print new swing lows.
The current candlestick is a bullish candle bouncing back, with the price stabilizing above the middle Bollinger Band again. On the 15-minute timeframe, the structure of oscillating upward with long positions remains intact. 60040 is the key support and watershed level for this rally. Buying the dip at this level🦅 offers an outstanding risk-reward ratio.
Operation Strategy: Wait for the price to retrace to support, buy the dip, and go long with the trend. Do not chase highs to enter.#BTC
BTC5.25%
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