Bitcoin's movement this wave is interesting. On the weekly chart, it has already broken through the downtrend line, but got stuck at the 94500 resistance level. This week's close shows a long upper wick on a bearish candle, indicating there's still selling pressure from above. Essentially, it's still oscillating repeatedly within a larger rectangle pattern. To have further upside potential, it must firmly stand above the upper edge of the rectangle. If there's a pullback, pay attention to whether the 89700 uptrend line can hold support.
The daily chart is more straightforward — a volume-driven large bearish candle directly broke through the channel midline and formed an Evening Star, which is a bearish reversal pattern. This is significant. The most critical level right now is the W-bottom neckline at 90700, which is the dividing line between bulls and bears. Once it breaks, the next support is at 89500 (Bollinger Band midline). If it drops further, the extreme level is 87000 (channel lower band).
From a technical indicator perspective, both MACD and RSI have formed bullish crosses, which sounds positive, but be wary of potential corrections. Short-term traders should mainly focus on the 4-hour level these days, and opportunities should emerge.
For trading operations, if there's a pullback to around 90377, 89875, or 89300, consider going long. The initial target for a bounce is around 92000.
94500 can't break through, it's really painful. It feels like there are whales above really suppressing it.
Feels like 89700 is being tested again. If it breaks, that would be awkward.
Once the evening star appears, nothing good happens. I've seen it too many times haha.
Golden crosses are unreliable, they repair faster than they appear.
If 90700 breaks, I'm out. Nothing more to say.
The shorts don't seem to have used all their strength, there might be more tricks.
Rectangle consolidation for so long, I'm already numb to it.
89300 here is actually worth a gamble. If lucky, bounce to 92 and exit.
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MentalWealthHarvester
· 01-08 06:52
I can see this is Chinese text about cryptocurrency trading and price movements. Here's the translation to Japanese:
黄昏の星が出現した、今回は本当に違う
94500を突破できなければ、単純に何度も利益確定売りをするだけだ
87000を見た後が本当の底だ、今何を底値買いしているのか
ゴールデンクロスの修正で大勢が損切されるだろう
90700のレジスタンスは必ず守らないといけない、そうでなければ89300まで直行だ
4時間足は危険な遊びをしている、後で損失を出したらお前らは分かるだろう
92000？ハハ、考えすぎだ兄弟
レクタングル（矩形）の揉み合いはクジラ（大口トレーダー）が玉を集めているだけだ、騙されるな
売り圧力がこんなに強いということは、上にはビッグショートが守っているということだ
Bitcoin's movement this wave is interesting. On the weekly chart, it has already broken through the downtrend line, but got stuck at the 94500 resistance level. This week's close shows a long upper wick on a bearish candle, indicating there's still selling pressure from above. Essentially, it's still oscillating repeatedly within a larger rectangle pattern. To have further upside potential, it must firmly stand above the upper edge of the rectangle. If there's a pullback, pay attention to whether the 89700 uptrend line can hold support.
The daily chart is more straightforward — a volume-driven large bearish candle directly broke through the channel midline and formed an Evening Star, which is a bearish reversal pattern. This is significant. The most critical level right now is the W-bottom neckline at 90700, which is the dividing line between bulls and bears. Once it breaks, the next support is at 89500 (Bollinger Band midline). If it drops further, the extreme level is 87000 (channel lower band).
From a technical indicator perspective, both MACD and RSI have formed bullish crosses, which sounds positive, but be wary of potential corrections. Short-term traders should mainly focus on the 4-hour level these days, and opportunities should emerge.
For trading operations, if there's a pullback to around 90377, 89875, or 89300, consider going long. The initial target for a bounce is around 92000.