BTC has been consolidating in a range for half a month. Is it finally about to break through?
After a week of rebound, it has now reached a relatively important level, the upper edge of the 4-hour level oscillation range. This box rectangle is relatively regular. It has touched the upper and lower three times. At this time, we only need to see a large-volume Yang line that breaks through 10W, and the large-scale oscillation will end in the short term. Returning to the bullish trend is expected to reach a new high.
At present, the price behavior that needs to be at the upper edge of the range, ideally, is a large-volume breakthrough, and a small-volume retracement. Then continue to move upward.
If there is a significant drop in pressure, the other scenario is to maintain a high level of sideways fluctuations to digest the selling pressure. After all, this position has been tested three times. In theory, if the bulls can no longer see the power to attack, they may stop here and wait for the eve of Trump's coming to power before making a big move.
The current position is too risky to chase the rise and the profit-loss ratio is small. It is more stable to do the right side retracement after the breakthrough as before.
Several locations that need attention
Support position
First position 98750 (under testing)
Second position 97600
The third position 96200-96700
Pressure position
First position
Second position
The third position
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