$BTC
Bitcoin breaks through 79,000. The first wave after the opening didn't catch up. What should we do next? 🔥🔥🔥
Let's first look at our leading coin, Bitcoin. The 1-hour chart still shows a sideways trend, but risk signals have already started to appear:
Bitcoin is currently trading below the upper Bollinger Band. The upper band at around 79,650 is a strong resistance. Multiple short-term tests have failed to break through effectively, making chasing high very risky; the MACD red histogram continues to shrink, and all three lines of the KDJ indicator are already in the overbought zone. The J line is turning first, and the bullish momentum is clearly weakening, possibly leading to a technical correction at any time.
Key support: 78,500 is the first defense level. If broken, look at the middle Bollinger Band at 77,460. This is the lifeline for the bulls. Once lost, the short-term trend will directly weaken.
In terms of operation: do not chase highs! Near the 79,500-80,000 range, consider light short positions, set stop-loss properly, and target first at 78,500; if it pulls back to 77,500-78,000 and stabilizes, then consider low-buy opportunities for more safety.
Bitcoin breaks through 79,000. The first wave after the opening didn't catch up. What should we do next? 🔥🔥🔥
Let's first look at our leading coin, Bitcoin. The 1-hour chart still shows a sideways trend, but risk signals have already started to appear:
Bitcoin is currently trading below the upper Bollinger Band. The upper band at around 79,650 is a strong resistance. Multiple short-term tests have failed to break through effectively, making chasing high very risky; the MACD red histogram continues to shrink, and all three lines of the KDJ indicator are already in the overbought zone. The J line is turning first, and the bullish momentum is clearly weakening, possibly leading to a technical correction at any time.
Key support: 78,500 is the first defense level. If broken, look at the middle Bollinger Band at 77,460. This is the lifeline for the bulls. Once lost, the short-term trend will directly weaken.
In terms of operation: do not chase highs! Near the 79,500-80,000 range, consider light short positions, set stop-loss properly, and target first at 78,500; if it pulls back to 77,500-78,000 and stabilizes, then consider low-buy opportunities for more safety.
