12-4 Morning BTC Strategy: The upward trend remains strong, with 92,000 as a key lifeline!
Recently, Bitcoin has shown a clear upward trend, with small continuous gains in K-lines and alternating high-level bullish and bearish patterns. The competition is intense, but the bulls remain dominant! As of now, the current price is approaching 94,000, with a 24-hour increase of over 7.7%, strongly operating along the upper Bollinger Band.
Today, the focus is on the support level of 92,000, which serves as a buffer for pullbacks. If maintained, the bulls are expected to make a move towards 95,000; the RSI indicates overbought conditions suggesting a possible minor pullback in the short term, but the OBV (On-Balance Volume) is rising along with net inflows of institutional funds, indicating that buying pressure has not diminished.
In terms of operations, it is recommended to buy on dips rather than chasing highs. If it pulls back to the range of 92,000-93,000, one can position with light holdings, aiming for 95,000 and 98,000. If it breaks below, exit decisively. Long-term holders have clear signals to add positions, while short-term investors need to be cautious of increased volatility after divergences.
