Participating in a one-sided market requires courage, while participating in a volatile market requires patience. Without courage, you cannot achieve great things; without patience, you cannot accomplish significant tasks. Too many people come with hope every day, only to return with despair. It is not the market mocking you, nor is it that your courage is lacking. The market is both a meat grinder and an ATM; this is the essence of the market, it is a battlefield.

Hello everyone, I am trader Gege. Continuing from the last discussion, the price of Bitcoin continued to rise slowly yesterday, with a slight pullback occurring in the early morning, but the intensity was not strong. The altcoin had a small rebound last night, and today’s data release did not affect the continuation of the upward trend; it only caused a small pullback during the announcement before testing upwards again. The recent influx of external funds has allowed Bitcoin to challenge its previous highs again. Whether it can reach a new historical high remains to be seen. As mentioned before, around this price level, the main force can easily dig pits and set traps. Regardless of how strong the trend structure is, it is still necessary to be cautious; being steady is not a bad thing, it just takes a bit longer. Of course, when encountering a highly certain market, one should strike hard; these two do not contradict each other.

From a technical perspective, the daily K-line of Bitcoin continues to test the upper Bollinger Band, and this is also near the previous high resistance. Therefore, there is not much to say technically today; it relies more on real-time operations. I mentioned this in a previous article, and I will reiterate it today. If you are a conservative trader, then just observe, as this is also a repeated challenge to the previous high. Whether it breaks or not, you can choose to wait for the market to yield results before seeking a stable plan. If you want to test the waters, you can defend with an acceptable loss. There are two plans: first, if it does not break the previous high, intervene near the previous high and retreat if it breaks. Second, if it appears to break the previous high but closes back down to the current high point or below, then intervene again, using the new high as a defense point. If there is a strong entity breakthrough, then just observe. The above is a plan for testing short positions; those who agree can refer to it. What about short-term long positions? First, observe the support at the 108,000 level, and then at the 106,000 level.

For the altcoin's short-term operations, Gege believes that a short position can be tested below 2,700, provided it does not stabilize above the 2,700 level. If it stabilizes, then it will continue to rise. So, you can refer to the 2,640-2,680 range, but remember the above premise. The short-term support is simply around the 2,500-2,480 range, and then the 2,400-2,380 range. Today's strategy will not be written separately; just follow the thought process and try what you like.

The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss spaces accordingly. Specific strategies should be based on real-time conditions; feel free to consult.

Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the cryptocurrency world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin and altcoins, find Gege.

Written by/ I am trader Gege, a friend willing to accompany you in your resurgence.

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