Bitcoin's recent rally has indeed been quite strong, almost to the point of being outrageous. The price has already surged to the 93,400 level. Looking at the chart, from 93,500 up to around 94,500, that is an area that has been repeatedly traded before, with a lot of sell orders stacked up, so it definitely can't be pushed through in the short term.
There is a high probability of a pullback in the afternoon. At such times, instead of chasing the high, it's better to wait. The price is very likely to retreat to the 92,000-91,500 range to find support. As long as the bottom holds, there is still hope, and it can push back up to the 93,500-94,500 range again. This is the current trading strategy—wait for the pullback and go long.
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RugpullSurvivor
· 01-07 19:04
93500 that threshold is really a bit tough, need to wait for a pullback before acting
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StrawberryIce
· 01-07 11:24
93500 is really a tough barrier. The sell orders are indeed quite heavy.
If you can't break through, just wait. Anyway, be patient and wait for a better level to position.
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FancyResearchLab
· 01-05 07:58
In theory, this wave of pullback setup sounds reasonable, but in practice... I've locked myself in again. The 93500 level has quite a bit of sell orders stacked up, but it's probably just another useless new price level. Let's see if we can hold the 91500 support.
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SandwichTrader
· 01-05 07:49
94,400 can't hold up, why keep chasing? Just wait for the pullback, and it'll be over.
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TokenDustCollector
· 01-05 07:48
The 93,500 level has long been clear; we're just waiting for a pullback.
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LightningAllInHero
· 01-05 07:38
Is the 93,500 barrier really that tough? Why do I feel like I've already broken through it?
Bitcoin's recent rally has indeed been quite strong, almost to the point of being outrageous. The price has already surged to the 93,400 level. Looking at the chart, from 93,500 up to around 94,500, that is an area that has been repeatedly traded before, with a lot of sell orders stacked up, so it definitely can't be pushed through in the short term.
There is a high probability of a pullback in the afternoon. At such times, instead of chasing the high, it's better to wait. The price is very likely to retreat to the 92,000-91,500 range to find support. As long as the bottom holds, there is still hope, and it can push back up to the 93,500-94,500 range again. This is the current trading strategy—wait for the pullback and go long.