Use sideways to replace decline, do not be fooled by short positions, a pullback still needs to be low long!

Bitcoin's daily K line has been up for 7 consecutive days, and the Bollinger Bands are opening up, with the upper band opening upwards to create upward space, and the price is running close to the upper band. Last night on the 4-hour level, a large bullish candle pulled the price up, firmly standing above the 100,000 level. This morning, it continued to rise but faced pressure at 102,762, currently around the 101,600 line. The MACD bullish energy shows signs of contraction, the KDJ three lines are about to merge to form a death cross, and the RSI is turning downward, indicating a need for a pullback in the short term, with indicators showing a need for correction. On the hourly chart, the upper band is turning downward, with MACD bearish energy increasing, KDJ forming a death cross downward, and RSI continuously declining. In terms of operation, remain bullish and look for low long opportunities, but do not chase the long positions directly; wait for a pullback before participating in the long!

Last night, the short position on Bitcoin at 102,000 and the short on Ethereum at 3,710 did not yield much profit; fortunately, after reducing positions to protect capital loss, we escaped a disaster. During the day yesterday, the short position at 99,500 also yielded only a few hundred points of profit before changing to a capital-protecting loss, which helped avoid a catastrophe. This indicates that the risk of counter-trend positions is high, and it emphasizes the importance of risk control. Timely position reduction ensures that floating profits become real profits, and switching to capital-protecting losses helps prevent drastic market changes. Today, the market is likely to exhibit another sideways decline, luring shorts, and then continue to rally in the evening. If there is going to be a spike, it is more likely to happen tomorrow night, so just follow the trend for long positions; do not participate in short positions today!

For Bitcoin, look for low longs at 101,000 and 100,000 here, with targets at 102,500, 104,000, and 106,000.

For Ethereum, look for long positions at 3,630 and 3,580, with upward targets at 3,700, 3,800, and 3,900.

The above is only a personal opinion; investing involves risks, and caution is needed when entering the market! #BTC重返10万 $BTC