From the current market observation, the four-hour level trend shows a three consecutive bullish candle upward movement. However, the upper band of the Bollinger Bands has formed a significant selling pressure, resulting in a longer upper shadow on the bullish candles. But in terms of the overall pattern, even with the selling pressure above, the bulls are still in control of the market rhythm.



Looking again at the hourly level, the market quickly retraced below the upper band of the Bollinger Bands after a strong upward movement. However, this pullback is significantly weaker than the rebound. Currently, the price is gradually climbing upwards, and the MACD indicator's dual lines have not changed their upward extension trend due to this pullback.

The midnight trading suggestion remains to maintain a low long position after a pullback. It is recommended to go long around 120000—121000 for Bitcoin, with targets at 123000 and 124000. Make sure to manage your risk during night operations.
BTC-4.65%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)