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#BTC After the weekend's sideways adjustment, the overall market trend surged after the morning session closed. Bitcoin, after hovering around 87,000, experienced a second volume increase and rose to around 90,300 before facing resistance and pulling back. Currently, it remains around 90,000 with sideways consolidation. Altcoins also saw volume increase along with Bitcoin, temporarily recovering to around 3,050 before encountering resistance. Our early morning strategy focused on key support levels for a rebound, which was achieved as planned. We entered long positions around 87,800, and as the market further recovered and broke through 88,600, we continued to hold. When the market retraced a second time, we took profits and exited. Although we didn't catch the best entry point, we still gained nearly 2,000 points of profit. The trading range for the near future has not been broken, and the US market hours are still ahead. Don't overly trust the market's optimism.
Looking at the current chart, the daily candlestick shows a large bullish move upward, but it hasn't broken the previous high of 90,500, which is a key resistance level marked by a long upper shadow. Overall, the price remains in a consolidation range. Although the daily candlestick closed with a large bullish body and broke through the middle band, the 90,000 level has not yet stabilized, leaving room for a second retracement. The middle band on the daily chart is a critical level, as it indicates whether a top-bottom reversal can occur. On the four-hour chart, the large bullish candlestick has opened the Bollinger Bands, suggesting a potential breakout in the high-level consolidation. The middle band has moved up to around 88,000, indicating a high-level adjustment. These signs suggest that tonight may see some correction, which could set the stage for a second surge. With the breakout of the triangle pattern, short-term strategies could focus on retesting and entering long positions.
Bitcoin can be bought around 89,300-88,600, targeting near 90,500. Altcoins can be bought around 2,970, targeting near 3,050.