4.8 Wednesday morning’s latest BTC outlook: first empty positions, then go long during the day

When I woke up, it was as if the sky had collapsed. The BTC surged straight upward and decisively pushed the price up to 727. Friends of can finally breathe easier, but the “short” side is screaming in misery. Currently, the upward momentum is slowing down and a slow pullback has begun.

On the 4-hour chart, within the smaller time frame, the middle band has been acting as support and the price has risen steadily. It’s currently even moving upward with a single large bullish candle on increased volume, breaking the short-term ranging rhythm. Although it’s strong in the short term, you must not chase longs excessively at high levels. Above 730, there’s still strong resistance. For today, first look for a pullback; after it drops, then look for longs again.

Reference 725 and 730: enter shorts in batches; look for a drop to the 710-700 area. If the decline does not continue, do not take the short further—switch to longs only if there’s a reversal.