12.14 Bitcoin Trading Strategy Analysis
The road to success is not crowded because there are not many who can persist until the end. When you want to give up, please tell yourself to hold on a little longer, because often this little bit of persistence brings you one step closer to your dreams.
Currently, the market shows a stabilization signal with multi-timeframe resonance: the 4-hour level sees the price of the coin oscillating between the middle and lower bands of the Bollinger Bands, with bullish candles dominating the pattern, highlighting a strong oscillation trend. However, the three Bollinger Bands and the moving average are descending in sync, and the short-term directional choice window is approaching; the 1-hour level is more indicative, as last night the price of the coin dipped to the core support level around 89880, after which low-end buying surged, quickly driving the price back up, highlighting the firmness of the support. Subsequently, the market experienced alternating small K-lines, with volatility narrowing, and trading volume simultaneously decreasing, leading to a balanced consolidation period for both bulls and bears. Moreover, the Bollinger Bands continue to contract, and the KDJ values are in the oversold range around 30, combined with a consecutive bullish trend, increasing the probability of a short-term bull counterattack.
Consolidation is an important preparation for trend initiation. The effective defense of core support and the gradual accumulation of volume will lay a solid foundation for subsequent upward movements. The trading advice continues with the previous strategy, based on the premise that the support at 88880 remains intact, focusing on buying on dips.
Trading Advice
Buy Bitcoin around 89500, target 91000, 92000
