10/30 Bitcoin Market Analysis
Yesterday, Bitcoin continued to rise, reaching a price of 73660, just about two hundred points away from the highest point. Given this, high points are usually not easily broken, often requiring a pullback and consolidation to gather enough momentum for another surge.
From the daily chart, it has closed positively for four consecutive days, and the bullish momentum remains strong. The Bollinger Bands are showing an upward opening trend, and the price has broken through the upper resistance level. All indicators are also diverging upwards, making the continued bullish trend quite evident from a structural analysis.
From the four-hour chart, there are signs of a pullback, but the overall trend is still upward. Therefore, it is important to remain cautious during trading and not to blindly chase after bullish positions.
Personal trading suggestion: Buy Bitcoin in the range of 71900 - 71400, with a target price of 72800.
