Bitcoin breaks historical high of 76,391! Short-term analysis: a pullback may be coming
Current Bitcoin price is $75,734, an increase of 0.71%.
The trading pair is BTC, don't get it wrong!
Technically, Bitcoin is on an upward trend on both the 15-minute and 1-hour charts. But the price is about to reach the upper boundary of the channel, similar to the reversal area from $76,900 to $76,430.
Trading strategy to note:
Because of these signals, we need to be cautious. Bitcoin is still bullish in the long term, but there is a high possibility of a pullback in the short term. The strategy should be as follows:
Short-term trading:
If you want to short, Bitcoin should break below the lower boundary of the channel or the key support area, and set the stop loss above the potential reversal area.
If you want to long, wait for Bitcoin to test the support area again or break through the potential reversal area, and set the stop loss below the support level.
Long-term view: Long-term investors can buy now, but must be patient and wait for clear signals to rise next time.
Bitcoin remains quite good in the long term, but there may be a pullback in the short term. Retail investors need to keep a close eye on the price, and strategies need to keep up.
Recently, I plan to ambush a potential coin that is ready to explode, doubling it is quite simple, and I am also looking for some potential coins to hold until the end of the year, expecting a space of more than 10 times is not a problem. If you want to keep up, leave a message, follow, like, and share for free.
