Today, the Bitcoin market is showing a strong pump trend, with three consecutive Bullish lines on the daily chart injecting a strong boost to long positions. The day's price action started around 109300, experienced a brief pullback, and then the long positions made a strong push, pushing the price up to a high of 111600, currently consolidating around 110800.



From the technical perspective of multiple time frames, the daily chart shows positive signals, and the bearish strength has significantly weakened. Currently, 115800 has become a key resistance level above, while 106000 is an important support below. The 4-hour chart shows that long positions' momentum continues to accumulate, and the price has touched the upper band of the Bollinger Bands, with 108300 being a support level to watch closely. On the hourly chart, although the bullish momentum has slightly weakened, 109500 and 107500 remain important support areas.

For evening trading strategies, investors can consider the following two operational plans:

1. When the price pulls back to the range of 111300-111800, consider establishing short positions, with the target set between 109300-108800.

2. If the market pulls back to the range of 4075-4100, you can also try to lay out short positions, with the target range being 3980-3960.

It is worth noting that the cryptocurrency market is highly volatile, and investors should fully assess risks when formulating trading strategies, reasonably set stop-losses, and ensure the safety of their funds. At the same time, closely monitoring market news and the movements of large institutions is also an important factor in grasping the market direction.
BTC-2.05%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
TestnetNomadvip
· 23h ago
Enter a position and just do it. Whoever is cowardly is a grandson.
View OriginalReply0
ForkLibertarianvip
· 10-20 11:37
The bull run has finally started, who dares to short?
View OriginalReply0
DefiPlaybookvip
· 10-20 11:34
After finishing the wool pulling, wait for the settlement kkk
View OriginalReply0
TommyTeachervip
· 10-20 11:33
The long positions are really strong this wave.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)