$BTC Evening Insights:
The Bitcoin hourly level is still oscillating within a wedge. Currently, the low point of Bitcoin's hourly level is rising and has not created a higher high. As long as it doesn't break the wedge on a pullback, a new low will not appear, and the decline will not continue.
For those wanting to go long, wait for Bitcoin to break the wedge at the position 95742 to pursue long on the right side with higher certainty.
Looking upward, the highs indicated by the left yellow arrow and the new high indicated by the right yellow arrow can be positions to reduce your holdings. Leave a base position and then aim for a new high; if the wedge breaks, stop loss.
If Bitcoin breaks and stabilizes above 95742 at the hourly level, look upward to 97078-97888; still, the point is if it can't break 95742, it’s useless.
At the 4-hour level, breaking below 94500 looks downward to 93035-92042.
Bitcoin's daily level is consolidating within a flag,
As long as it doesn’t break the corresponding price of the flag, which is 89199, the bullish trend at the daily level remains.
Just be patient and wait for it to break the flag to a higher position; the longer it oscillates within the flag, the greater the probability of breaking upward.
The 4-hour level has shown a potential head and shoulders top, but since it has not yet formed, it is a potential head and shoulders top. The right shoulder of this head and shoulders top is at the position of the upper boundary of the 4-hour box, 94492; this position should not be broken. Once it breaks, the right shoulder of the head and shoulders will be formed, and you will see Bitcoin around 89000 again. The only way to break this situation is for the 4-hour level to break the previous high and create a new high. Even if it only breaks the previous high by one, this potential head and shoulders top will be destroyed. The current trend is very dangerous; it’s a step to heaven and a step to hell, depending on which way Bitcoin chooses. If the head and shoulders top is established around 89000, this is a position worth going long on the left side, but it should be half a position, not a full position. A daily level break below 89000 will trigger a stop loss.
Pay attention to changes in volume, meeting adjourned.
