The morning session was in line with our expectations, with the price dropping to the 94500 support level and then rebounding. From the current structure, the rebound followed by a pullback is just a normal correction, and the bullish trend has not been broken.
On the four-hour chart, after reaching a new high, the price recorded a bearish candle retracement. After breaking below the upper Bollinger Band, a long lower shadow appeared, indicating strong buying support below. The short-term downward momentum is nearly exhausted, and the short-term bullish pattern remains unchanged.
In the afternoon, the strategy is to focus on buying first and then selling. Rely on support to look for a rebound, and after the rebound reaches the resistance zone, consider short positions.
Trading suggestions: Buy around 94500, target 96000, 96500
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1.14 Wednesday BTC Afternoon Trading Ideas
The morning session was in line with our expectations, with the price dropping to the 94500 support level and then rebounding. From the current structure, the rebound followed by a pullback is just a normal correction, and the bullish trend has not been broken.
On the four-hour chart, after reaching a new high, the price recorded a bearish candle retracement. After breaking below the upper Bollinger Band, a long lower shadow appeared, indicating strong buying support below. The short-term downward momentum is nearly exhausted, and the short-term bullish pattern remains unchanged.
In the afternoon, the strategy is to focus on buying first and then selling. Rely on support to look for a rebound, and after the rebound reaches the resistance zone, consider short positions.
Trading suggestions: Buy around 94500, target 96000, 96500