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Recently monitoring BTC's trend, the hourly chart is still oscillating within that wedge pattern. The current lows are gradually rising, but it hasn't broken through the previous highs, indicating no clear short-term direction yet. As long as the retest doesn't break the wedge bottom, new lows won't appear, and the downward trend cannot continue.
For friends looking to bottom fish, I suggest doing this: wait for BTC to break above the 95742 level of the wedge, preferably retest to confirm, then go long. This will increase certainty.
Looking upward, the previous high on the left (High 1 and High 2) and the new high on the right are both worth paying attention to. When reaching the levels of High 1 and High 2, reduce positions accordingly, and keep some core holdings to push for higher new highs. If the wedge breaks down, stop loss immediately.
After the hourly chart breaks through and stabilizes above 95742, the target range is 97078 to 97888. But as always—if 95742 isn't broken, all targets above are meaningless.
On the 4-hour chart, if it breaks below 94500, there are support levels at 93035 and 92042.
On the daily chart, BTC is still moving within a flag pattern, with the bottom support at 89199. As long as the daily chart doesn't break below this, the bullish trend remains. Be patient and wait for it to break upward out of the flag. The longer it consolidates within the flag, the higher the probability of an upward breakout.
There is also a critical point now— a potential head and shoulders top pattern has appeared on the 4-hour chart, though it hasn't fully formed yet. The right shoulder is roughly near the upper boundary of the 4-hour box at around 94492. Do not break below this level; once the right shoulder is broken, the head and shoulders top will be truly formed. At that point, BTC could revisit around 89000.
The only way to break the deadlock is if the 4-hour chart breaks the previous high and makes a new high, even if only by 1 dollar. This would invalidate the potential head and shoulders top.
The current situation is indeed very risky—it's a step to heaven, a step to hell, depending on how BTC chooses. If the head and shoulders top pattern is confirmed, the price around 89000 could be a good point for left-side long entries, but always use half your position, not all in. Key level: if the daily chart breaks below 89000, stop loss immediately.
Finally, remember to pay attention to volume changes; combining volume and price action will give a clearer picture.