Bitcoin experienced a large bullish candlestick yesterday, causing the bears to be continuously squeezed. Zhong Liang has been saying since the 1st that a pullback means buying, with small pullbacks being short positions and larger pullbacks being long positions. It has rallied from 78000-77000-76000, and Ethereum has risen from 2440-2400-2350. Yesterday, it was mentioned that the market would sprint towards the 80000 level, which quickly reached 82200, finally catching some profits on long positions!
The daily K line Bollinger Bands are expanding upwards, with KDJ forming a golden cross upwards, while RSI shows signs of slowing down at high levels. After a top divergence in MACD, the bullish volume is starting to expand again. On the 4-hour timeframe, the price has pulled back below the upper band, with KDJ and RSI turning downwards, indicating a demand for a pullback. No matter how bullish the outlook is, chasing the price above 81000 is definitely not advisable. The 80000 level is still not completely stabilized, so the only option for low longs is to wait for a pullback to enter!
There will not be a large pullback in the market; otherwise, it wouldn't be bullish. Occasional spikes are inevitable, so prepare psychologically. Hold long positions for the long term, and for short-term positions, reduce holdings where necessary. For intraday support, pay attention to 80000 and 79500, which are positions to enter long. Monitor 77600 and 76000 for additional positions; spikes here are opportunities to add. Resistance above is at 81000, 82000, and 83000.
For Ethereum, focus on 2480 and 2450, where the initial entry can be made. Spikes at 2400 and 2350 are levels to add positions, with targets looking upward to 2520, 2570, and 2660.
Our investment philosophy is primarily to ensure the safety of principal, and secondly to increase its value based on preservation. However, the market is ever-changing and unpredictable. This leads to two issues: first, in order to reduce risk, we cannot maximize profits; second, due to market uncertainty, losses will inevitably occur at some stage. Any successful trader needs to adhere to strict trading principles—no holding onto losing positions, no locking positions! The law of survival in the market is survival of the fittest. No one is doomed to fail, but a certain group will inevitably be eliminated by the market. War does not give soldiers an opportunity to explain; investors do not receive preferential treatment just for being weak. The waves will wash away the sand, the remains will be gold, and those who survive will be kings.
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