Can $BTC continue to soar? This week may see extreme fluctuations in the 60s, pay attention to the positions below

【Today's Market Analysis - BTC - 10.30】

For educational purposes only, not as investment opening advice. Profit and loss are at your own risk.

1. Daily: To conclude, it won’t go down for now, don’t short. Last night it almost broke the previous high, but did not create a doorway. Pay attention to support at 721 and 715, after a pullback to these two positions, it will continue to surge, preparing to challenge the previous high. There is an extreme support level around 676 on the daily, unless there is significant negative news, this level won't be reached during the day. Pay attention to various data on Friday; if there is a significant discrepancy from expectations, it might spike down to the extreme support level.

2. 4H: It has entered a strong bullish phase. From the trading volume, it has formed a very nice volume-price uptrend, showing signs of a strong bull market. Brother Ha believes that the price will still consolidate in the 70s and will pull back to the daily mentioned support level in the 70s.

3. 15min: At a smaller timeframe, Brother Ha observed that since the K starting at 03:15 last night, it has begun to show a washout pattern. The price dropped from 73760 all the way down to around 722. In the range of 729~733, there was capital pressure preventing the bulls from breaking through. However, the upper shadow line test K at 06:45 showed that the selling pressure in this range was not significant. This is also a good phenomenon, so Brother Ha speculates that the scenario is as follows: The dealer is suppressing the price in the 729~733 range, beginning to wash out, and using the upper shadow line test K to check that there are not many sellers above. Therefore, the price will consolidate around 72, with multiple tests of the upper range. If the selling pressure remains low, it will rise; otherwise, it will pull back to the daily 715 to accumulate.

Day trading thoughts: Don’t short!!! The current K is performing normally. If the test K shows serious selling pressure, then go short at the current price. Short to 715, then you can switch to long.