Last night, BTC’s lowest point was 61,297, and this morning’s highest point was 64,691—separated by 3,394 points. So today, the pullback to go long must be between these two levels (you can be 1000% sure it’s impossible to drop below 61,397). Today, you can use Fibonacci retracement levels together with the chart’s timeframe to catch long entries.

64,691-3,394*0.382 = 63,394
64,691-3,394*0.5 = 62,994
64,691-3,394*0.618 = 62,593

Because the fast and slow lines on the 4-hour chart are intertwined, with bulls and bears locked in a fierce battle, for the pullback, watch the 4-hour Bollinger Bands middle and lower bands. The 4-hour Bollinger middle band is around 63,015, which lines up exactly with the Fibonacci retracement 0.50 level—at least open a starter position here. The lower band is at 62,125; only a wick would bring price there. Later, check the 30-minute timeframe again: if the MACD zero axis prints a stop-following signal, you can add at market price. If it falls below the zero axis, then add between 62,600-62,155. At this time, the average cost will be below 62,800. Then, if it rebounds back to around today’s high of 64,650 and the new high near 65,250, there will also be more than 2,000 points of profit. The defensive level is 62,000. Here, you will not cut loss at that level—instead, set a 15% stop loss, and place a 15% buy order at 61,755 to buy back.

That’s today’s offensive and defensive game plan.