Bitcoin Evening Roadmap and Suggestions



After breaking out of the triangle, Bitcoin retested the upper boundary of the triangle to confirm support and began to rebound upward. It still couldn't break through the resistance at 89516 marked by the white box. Facing resistance, it pulled back and retested the upper boundary of the triangle, which held, and then rebounded again. Now it has approached the resistance at 89516. Let's see if it can break through this resistance in one go. If it succeeds, the next target is 90515.
If it fails to break through this time and pulls back to the upper boundary of the triangle, it may not hold, and returning inside the triangle will likely lead to a retest of the support at 87516. Although the hourly lows and highs are rising, the inability to break through the 89516 resistance indicates that the bulls are showing signs of exhaustion. A pullback that breaks below the support at 88888 will lead to lower lows and continued downward retests. Staying within the range of 88888-89516 and consolidating until the US stock market opens might be better, rather than prematurely choosing a direction.

Bitcoin with volume broke through 89272 and should chase long on the rebound. If it drops below 88976 with volume and cannot recover, it indicates a short position, so set good stop-losses.
On the hourly chart, breaking and holding above 89516 targets 90515-91353. If it can't go above 89516, it’s useless.
On the 4-hour chart, a break below 88803 suggests a target of 87747-87233 on the downside.

On the daily chart, only when Bitcoin can break above the EMA20 and 50-day moving averages will the daily bullish trend be strong. Don’t think that a price increase means a reversal; such reversals are not that easy. The MACD on the daily chart has already moved below the zero line, indicating that the current market is controlled by the bears. Focus on short positions and don’t be fooled by the illusion of a rise.
The above is just my personal analysis.
BTC0,14%
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