On October 28, Bitcoin surged but failed to stabilize, and the short-term price will continue to oscillate between bullish and bearish.

CN
4 hours ago

Imagine every success as a form of luck, and do not become arrogant. Many times, we have great ambitions and insatiable desires, always wanting more in front of us and leaving more behind. Do not easily shed tears in front of others, as it will only make people feel sorry for you. At any time, you must learn to be strong.

Yesterday, BTC attempted to break through the 116,000 mark but failed to stabilize above it. The price is currently in a tug-of-war state, and we have repeatedly been bullish at the bottom, with our targets being continuously validated. It feels like basking in the spring breeze.

Now, the four-hour K-line has formed a W double top pattern, and the pressure from the double top will inevitably lead to a pullback, so a retracement is a normal occurrence. If there is no pullback to build strength, how can there be momentum to break through new highs? Currently, the K-line has formed five consecutive small bearish candles and is about to test the support point of the middle track. When it reaches the support point, it will be our opportunity to be bullish. Therefore, today we will primarily focus on bullishness during the pullback.

You can look to be bullish in batches around the support area of 113,500-113,100, with a target of 116,000. A breakthrough target of 118,000 is for reference only.

Follow the public account, "What can relieve worries? Only Jiang Wei." A treasure analysis blogger with high emotional value, sharing trading education for free, bringing stability and clear guidance in the restless trading market, traversing three cycles of bull and bear markets and years of practical trading experience, specializing in naked K, trends, Dow Theory, Gann, harmonics, Chan Theory, Elliott Wave Theory, and other technical analyses, gathering into unique personal insights.

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