【Bullish divergence is confirmed, is this a breakout or a decline?】
The current market is very delicate. After Bitcoin hit a high of 79,472, it did not drop immediately but chose to enter a consolidation phase.
From the 4-hour chart, the candlesticks are almost flat. Even with the news of Trump canceling his Iran trip causing a slight dip, Bitcoin only dipped slightly, showing relative strength in the market.
Because Bitcoin has refused to decline for three consecutive days under heavy resistance above, we should consider the possibility of new highs in the market, meaning it might challenge the super resistance zone around 81,000.
But at this very moment, the market is very conflicted, and we can say it is at a balance point. Although there is an expectation of new highs, the indicators on the 4-hour, 8-hour, and 12-hour charts all confirm a top divergence, so a decline here is also entirely reasonable.
The bulls and bears are fighting, and the direction is unclear...
So how should we operate?
If we are going long here, keep an eye on a defensive level at 76,200. If it effectively breaks below this, we should exit and observe.
For short positions, target 81,000. If there is an effective breakout to fill the gap, there is still room to go higher.
Those without positions don’t need to worry. For Bitcoin to truly break through this level, it must have a high volume and a rapid surge, which will inevitably have a blood-sucking effect.
If Bitcoin really goes higher, we will have plenty of time to catch up on the mainstream coins’ rally, so no need to worry about missing out!
Currently, it’s recommended to observe more and make decisions after the market shows a clear direction!
#BTC现货ETF累计突破50万枚 $BTC #Gate13周年现场直击 $ETH
The current market is very delicate. After Bitcoin hit a high of 79,472, it did not drop immediately but chose to enter a consolidation phase.
From the 4-hour chart, the candlesticks are almost flat. Even with the news of Trump canceling his Iran trip causing a slight dip, Bitcoin only dipped slightly, showing relative strength in the market.
Because Bitcoin has refused to decline for three consecutive days under heavy resistance above, we should consider the possibility of new highs in the market, meaning it might challenge the super resistance zone around 81,000.
But at this very moment, the market is very conflicted, and we can say it is at a balance point. Although there is an expectation of new highs, the indicators on the 4-hour, 8-hour, and 12-hour charts all confirm a top divergence, so a decline here is also entirely reasonable.
The bulls and bears are fighting, and the direction is unclear...
So how should we operate?
If we are going long here, keep an eye on a defensive level at 76,200. If it effectively breaks below this, we should exit and observe.
For short positions, target 81,000. If there is an effective breakout to fill the gap, there is still room to go higher.
Those without positions don’t need to worry. For Bitcoin to truly break through this level, it must have a high volume and a rapid surge, which will inevitably have a blood-sucking effect.
If Bitcoin really goes higher, we will have plenty of time to catch up on the mainstream coins’ rally, so no need to worry about missing out!
Currently, it’s recommended to observe more and make decisions after the market shows a clear direction!
#BTC现货ETF累计突破50万枚 $BTC #Gate13周年现场直击 $ETH
