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Breaking through the daily trend line, are new long positions starting? I am skeptical.
1. Weekend , and the price is pumped so high. Near 60400 is the starting point of a big Bearish line with volume, there is pressure here, and this kind of volume is unlikely to break through effectively.
2. The current price and position are influenced by multiple factors. A valid breakout should be accompanied by a large volume bullish candle pushing above 62000, and a strong consolidation without breaking the pullback.
3. Even if it is not a high-volume Bullish line, it is necessary to be able to see two consecutive 4-hour level Bullish lines with volume, and stand near the trend line.
4. The bearish factors for shorts: BTCUSD>BTCUSDT has become more long, with CB funds entering. But the problem is, there is no spot volume seen here. This is a very strange place.
5. The current price has reached the middle of MA14-MA28. If the price can be maintained for another week, MA14 will turn around, and this will become a longer consolidation period.
6. For shorts, quickly pushing down the market is a necessary task to change the current situation. Otherwise, most of the 4-hour short orders will be wiped out. Because if there is a volume spike here, it will disrupt the structure. (I think it's a low probability event, waiting to be proven wrong)
7. If there is a pullback of swing trading around 73000, it's interesting that two points, one is the secondary high price around 0.5, and the previous gap is just around 0.618.
The CME opened at 8.6 points. Today, we will see if the CME chooses to leave this big gap or fill it.
(From TV-Maple-leaves)