ETH Evening Strategy: Bitcoin just experienced a false break below the triangle pattern. If it fails to recover within the triangle and then breaks below the previous low, a pullback is likely. If it recovers within the triangle, it will likely oscillate within the 3303-3346 range. A break below 3303 will almost certainly lead to a retest of the 3253 area. Once 3303 is broken, the consolidation phase following this upward move will be over. If it breaks below 3253, the large bullish candle indicated by the white arrow will be more than half-engulfed. If it fails to rebound effectively from the 3253 level back above 3300, it will likely continue its downward trend towards 3183. Currently, the hourly resistance level for Bitcoin is 3346. A break above this level is needed for another upward move, targeting the previous high and new highs. Don't be fooled by Bitcoin's rapid rises; its falls are often much more volatile. If the rebound fails to break through the previous high and forms another doji, it will form a double top pattern, and the pullback that everyone is expecting will arrive. The problem is that if you get a pullback but are too afraid to buy, then the pullback is useless. For Bitcoin, a breakout above 3344 with volume suggests a long position; a break below 3302 with volume suggests a short position. Pay attention to volume changes and set stop-loss orders. On the hourly chart, if Bitcoin holds above 3344, look for 3380-3420. On the 4-hour chart, a break below 3311 looks for 3263-3230. On the daily chart, Bitcoin has broken out of a triangle pattern. The key is whether it can hold above the upper boundary of the triangle. If it stays above the triangle, it will continue to rise. If it falls back into the triangle, it will continue to oscillate within the triangle. As long as it doesn't break the triangle, there's nothing to worry about. The rounded bottom pattern (white line) on the daily chart is complete. Now we see if the rounded bottom pattern (yellow line) forms. If it does, Bitcoin will likely reach 3654. This is from a daily chart perspective. Meeting adjourned. $ETH #Strategy increases Bitcoin holdings {future}(ETHUSDT)
Risk and Disclaimer:The content shared by the author represents only their personal views and does not reflect the position of CoinWorldNet (币界网). CoinWorldNet does not guarantee the truthfulness, accuracy, or originality of the content. This article does not constitute an offer, solicitation, invitation, recommendation, or advice to buy or sell any investment products or make any investment decisions
No Comments
edit
comment
collection48
like39
share