The four-hour chart of Bitcoin has completed the expected upward move, reaching the pressure level around 89,000 before entering a short-term correction. From the chart pattern, the price remains above the upward trendline, and during the pullback, trading volume gradually diminishes, indicating limited short-term selling pressure and that the bullish dominance remains unchanged.
The MACD indicator has formed a bullish crossover above the zero line, with the green bars continuously shortening, indicating an imminent transition from red to green bars and further accumulation of upward momentum; the KDJ lines (K, D, J) are diverging upwards simultaneously, currently in the neutral to slightly strong zone of 50-70, not yet entering the overbought zone above 80, leaving ample room for upward extension, and the short-term trend is likely to continue.
Trading Strategy: Bitcoin retraces to the 87,600-88,000 range, with a target of 89,500, and an upside target of 90,800. Altcoin retraces to the 2,950-2,970 range, with a target of 3,020, and an upside target of 3,080.
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Friday daytime Bitcoin and Altcoin Strategy
The four-hour chart of Bitcoin has completed the expected upward move, reaching the pressure level around 89,000 before entering a short-term correction.
From the chart pattern, the price remains above the upward trendline, and during the pullback, trading volume gradually diminishes, indicating limited short-term selling pressure and that the bullish dominance remains unchanged.
The MACD indicator has formed a bullish crossover above the zero line, with the green bars continuously shortening, indicating an imminent transition from red to green bars and further accumulation of upward momentum; the KDJ lines (K, D, J) are diverging upwards simultaneously, currently in the neutral to slightly strong zone of 50-70, not yet entering the overbought zone above 80, leaving ample room for upward extension, and the short-term trend is likely to continue.
Trading Strategy:
Bitcoin retraces to the 87,600-88,000 range, with a target of 89,500, and an upside target of 90,800.
Altcoin retraces to the 2,950-2,970 range, with a target of 3,020, and an upside target of 3,080.