【Bitcoin breaks through key level, where will it ultimately go?】
Recap: Yesterday, Bitcoin was initially resisted at the 0.618 level, and short positions were taken, resulting in nearly a 1% profit from the drop. We reminded everyone to set a breakeven stop, but the subsequent rebound erased the breakeven stop. Last night, we noticed a large number of Bitcoin holders shorting Bitcoin in Bitcoin-denominated positions, and we again reminded everyone not to short; if you must short, wait for the right opportunity
Back to the K-line: Looking at the current chart pattern, Bitcoin has broken through the ascending triangle formation that has been consolidating for the past two months. Where Bitcoin will ultimately rise to is uncertain—don't assume it will hit 100,000 when it rises, nor 50,000 when it falls
Bitcoin has now broken through the resistance zone of 938–944. For those looking to go long on Bitcoin, wait for a pullback to test this support area. If it holds, enter long with a stop-loss at 930, and target around 973. The risk-reward ratio could reach approximately 1:4, which is quite favorable
As for whether the blue area above can be reached, it's unclear—take it step by step. The key resistance level at present is 973. If it breaks through, we can look toward the 100,000 level. $BTC
{future}(BTCUSDT)