Short-term Technical Analysis

Recently, $BTC's performance is indeed worth paying attention to. The daily chart has clearly shown increased volume, and the weekly chart has even presented a beautiful large bullish candle, a resonance signal that cannot be ignored. The key question is only one—how will it close this week?

If it finally closes with a volume-driven large bullish candle, it indicates that the bullish momentum is still continuing, and there is likely more room for an upward push later; conversely, if it only supports a small bullish candle or even gets hammered into a bearish candle, it can basically be confirmed that this is just a rebound correction, and the market will revert to the previous downward daily trend.

From a structural perspective, it’s quite clear—after a decline, a correction follows, which is a standard adjustment pattern. The most vulnerable point for this type of correction to fail is usually around the 0.382 Fibonacci retracement level of the previous decline, corresponding to a price near 98,000. At this level, caution is needed as there is a risk of a trend reversal downward.

How to operate? It depends on the situation: if you don’t have a position yet, it’s not recommended to blindly chase the high at this level; if you already hold long positions, consider reducing your holdings or taking profits directly—after all, a gain of 5,000 points has already been realized, which is a solid profit, and there’s no need to wait indefinitely.

Today’s approach is still somewhat conservative, mainly observing without action. Unless the market suddenly shows a clear reversal pattern, patience is advised—wait and see, until the market provides a more definite signal. Most likely, this phase of the market is just a correction, and there’s no rush.