Today I want to talk to you about this small short-term correction in the form of text. I hope to help everyone increase profits, reduce losses, and achieve a win-win situation. ❤ 1. First of all, Bitcoin's rally that started at 87k and peaked above 94k just slightly higher than last month's high indicates that the initial liquidity capture of the new high has been completed. The 1-4 hour chart has entered a correction cycle. During the night, it briefly dipped to 91,200 and quickly rebounded to 93,800, retesting the high-range zone—this also signals an intention for further correction. So I advised everyone in the strategy group this morning to take profits on long positions at 93,200 and wait for a better entry point. 2. Additionally, from the structural trendline in Chart 2, we have officially returned to the downward channel formed in September-October last year. The channel's lower support is around 90,400, which is also where the daily moving average golden cross occurs. The overlap of these two points makes a correction to 90,400 highly probable. After the correction, the expectation is for continued upward movement to 99k, which is the upper boundary of the structural channel. 💡 To summarize, the short-term correction is around 90,000, then a rally to 90,900, and then a decline to 69,000.
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YemenBit
· 01-08 00:12
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Hello everyone, I am Insider Brother.
Today I want to talk to you about this small short-term correction in the form of text. I hope to help everyone increase profits, reduce losses, and achieve a win-win situation. ❤
1. First of all, Bitcoin's rally that started at 87k and peaked above 94k just slightly higher than last month's high indicates that the initial liquidity capture of the new high has been completed. The 1-4 hour chart has entered a correction cycle. During the night, it briefly dipped to 91,200 and quickly rebounded to 93,800, retesting the high-range zone—this also signals an intention for further correction. So I advised everyone in the strategy group this morning to take profits on long positions at 93,200 and wait for a better entry point.
2. Additionally, from the structural trendline in Chart 2, we have officially returned to the downward channel formed in September-October last year. The channel's lower support is around 90,400, which is also where the daily moving average golden cross occurs. The overlap of these two points makes a correction to 90,400 highly probable. After the correction, the expectation is for continued upward movement to 99k, which is the upper boundary of the structural channel.
💡 To summarize, the short-term correction is around 90,000, then a rally to 90,900, and then a decline to 69,000.