🧠Looking at the 4-hour chart, we have indeed broken below the uptrend support line. However, we haven't continued to break strongly through the resistance zone (S/R), so we need to be wary of a potential correction.
➡️I'm still holding my long positions entered near the uptrend support line, hoping for a breakout above the S/R to 152-160.
⚠️Note the contradiction here, so I'm choosing to hold risk-free and wait for the market to determine the outcome. If your position is relatively large and you're currently seeing good profits, you could conservatively reduce your holdings.
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🧠It's reasonable for us to encounter resistance and pull back after hitting the blue resistance zone (around 98000). If you participated in some short positions, the price has now returned to the yellow support zone and neckline support, allowing you to lock in most of your profits. Lower targets to watch are the CME gap around 94000, or the support around 92588.
➡️If today's rebound isn't strong enough, watch the resistance around 96400, and the next strong resistance level to watch is the psychological resistance around 100000.
➡️If we can stabilize around 94000 for a period of time, consolidating this area, it's highly likely that the price will continue to rise.
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🧠From a structural perspective, we've been in a downtrend on larger timeframes. The price is currently approaching its limit of consolidation; closely watch for a breakout and subsequent upward move.
➡️Currently near a resistance zone, if the price can return to the lower yellow support zone (S/R), we can look for long positions to potentially capitalize on a larger upward move.
Let's see 👀
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The structure has changed, the rebound has started earlier than expected, the overlapping support zone has become invalid, and the limit order here has been cancelled. #Wolf_king88 $SOL
Looking at BTC's price action, there's a risk of a pullback. Therefore, I don't want to risk a profit retracement, and given the current good returns, locking in most of the profits before expecting further gains is reasonable.
Next, we need to watch for further upward movement after breaking through the blue resistance zone, or a rebound after the price finds support in the lower support zone. #Wolf_king88 $ETH
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The trigger reaction has occurred, meaning a winning probability has been established.
A conservative approach can lock in some profits, then proceed with further gains without risk. #Wolf_king88 $ETH {future}(ETHUSDT)