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Analysis: Bitcoin Short-term Rally Strong Yesterday, Caution Needed for Long Positions, Current Support at $89,923
Summary: According to sources, on-chain data analyst Murphy stated that the rally last night was strong enough that the 4-hour k-line has deviated significantly from the standard line of $89,923 indicated today. Therefore, it is not advisable to chase long positions from here today, especially since the price has already reached the 4th expected price line, ...
According to sources, on-chain data analyst Murphy stated that the rally last night was strong enough that the 4-hour k-line has deviated significantly from the standard line of $89,923 indicated today. Therefore, it is not advisable to chase long positions from here today, especially since the price has already reached the 4th expected price line, making it difficult for a strong upward trend tonight. However, as long as it does not fall below $89,923, opportunities can still be sought tomorrow. The daily k-line is still below the bearish trend line, but is very close to the position of $93,958 where the trend line is located. In other words, as long as the daily k-line closes above this price, the indicator will change from red to green (bullish trend line), indicating a potential rebound in the daily level, with expected prices of $95,604 and $99,108 respectively.
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Link: Analysis: Bitcoin Short-term Rally Strong Yesterday, Caution Needed for Long Positions, Current Support at $89,923 [Copy]
