Bitcoin rose overnight, and the market directly surged to a high of 82,300, again approaching the May high point, indicating the strength of the bulls. Last week, it was mentioned that the price drop was a trap to entice short positions and accumulate. Including yesterday, it was stated that the price was expected to rise and break through, and the price directly reached the target position as anticipated. Nearly a 3,300-point space.
The weekly K-level price showed a large positive candle accompanied by small negative candles continuing to move upward. The upper rail gradually rises, indicating that the price is eager to move. There is a high possibility of further upper probing; at least in the short term, the price needs to break through the 82,800 position to have a chance to reach the next phase. The MACD indicator on the chart shows an increase, indicating that the price still has upward momentum. The daily K-line has formed a large positive candle, and all Bollinger Bands are turning upward; after the price rises, the repair is being observed to see if it will retrace and rise or consolidate sideways. From a structural perspective, there is a higher probability of a slight fluctuation and then rising. The indicator signals are in a bullish arrangement, and any retracement is seen as an opportunity to go long.
For the day, it is still recommended to maintain a bullish outlook on retracements, looking at the 80,200-79,800 area to go long in batches. The target is set towards breaking through 82,500 and aiming for around 83,600.
Follow the public account, how to relieve worries, only Jiang Wei, a treasure analyst with high emotional value, sharing trading education for free, bringing stable strength and clear guidance in the restless trading market, with experience through three rounds of bull and bear markets and years of trading practice. Proficient in naked K, trends, Dow Theory, Gann, harmonics, Chande theory, and Elliott Wave theory, all gathered into unique personal insights.
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