BTCUSDT：The Low Box has Broken Through, and the Short-Term Bullish Idea Remains BULLISH

Summary:

BTCUSDT Walked out of the Previous Low Box Shock Range, Chose the Direction of the Bullish Rise, Short-Term Should Maintain the Bullish Idea, Pullback to Continue to Do Long.

BUY BTC-USDT

Close Time

CLOSED

20402.4

Entry Price

21600.0

19400.0

78811.4 +352.7 +0.45%

460.6

Pips

Profit

19400.0

20863.0

Exit Price

20402.4

Entry Price

21600.0

Fundamental Plane

Recently, a Series of US Economic Data has Performed Poorly, Economic Weakness has Raised Expectations that the Fed Will Slow the Pace of Interest Rate Hikes in the Future.The Dollar Retreated Markedly from its Highs, Showing Signs of Turning, Market Sentiment Risk Appetite Rose, and Risky Assets such as Cryptocurrencies Rebounded En Masse. As the Reserve Bank of Australia and the Bank of Canada Slow Down the Pace of Interest Rate Hikes, it may Encourage More Central Banks to Join the Ranks and Further Support Non-US Assets.

In Addition, Although the Cryptocurrency Market Sentiment is Weak and Trading is still not very Active, the Report of Cryptocurrency Company Coinshares Shows that There was a Small Inflow of Funds in the Crypto Market Last Week, and the Trading Volume Increased by 77% from the Previous Week, of which the Main Force of Bitcoin Crypto Market Trading, with a Net Inflow of $13 Million Last Week and a Cumulative Inflow of $310 Million so far this Year, Indicates that Investors' Trading Activities are Recovering and Confidence is Showing Signs of Recovery.

BTCUSDT：The Low Box has Broken Through, and the Short-Term Bullish Idea Remains BULLISH_1

Technical Plane

BTCUSDT：The Low Box has Broken Through, and the Short-Term Bullish Idea Remains BULLISH_2

From the 4-Hour Chart, After Nearly a Month, BTCUSDT Finally Got Rid of the Previous Low Sideways Shock Range, and Quickly Moved Higher, the Short-Term Trend Turned More, and has Now Completed the Confirmation of the Upper Support Level of the Shock Range, after the Short-Term Adjustment, there is still the Possibility of Further Upside.

The Operation is Mainly Low, You Can Try to Go Long when the Price Pulls Back to Around 20400, the Target is Set near the Upper Pressure Level of 21700, and the Stop Loss is Set below 20000.

Trading Advice

Direction Of The Transaction: Long

Entry Point: 20400

Target Price: 21600

Stop Loss: 19400

Support: 20400/20000

Resistance: 21000/21700

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