Bitcoin Analysis
I personally maintain a bullish view on Bitcoin. The market has been rising steadily since it began trading below 110,000. Around 107,200 marked the starting point of the previous surge. At the end of August, it returned to this support level, forming a double bottom pattern on the daily K-line chart, suggesting ample room for a rebound. The previous rally peaked around 124,500, and this current rally is expected to reach at least 120,000. While the previous surge was rapid and powerful, this rebound is more gradual and stable. Rebounds often involve significant pullbacks to build momentum, so my recent strategy is to open long positions during these pullbacks. I am firmly bullish on Bitcoin in the long term. The current upward trend is positive, and I am continuously opening long positions.
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Bitcoin Strategy: Consider opening a long position on Bitcoin when the price retraces to 114,500 or 113,500, with a target of 116,500.
