Bitcoin analysis

In one day on Wednesday, the price of Bitcoin suddenly rose to $30,000.

If the price breaks above the zone line and stabilizes and rises after retracement, this may be our time to enter the trade.

However, the extent of this wave of rise does not determine whether it will continue to rise, and other factors need to be paid attention to.

Over the past week, the market has shifted, noting Bitcoin's rise to $30,000 on Wednesday. However, it is recommended not to go long at a high level, but to wait for the "123 rule", that is, to consider entering the market after the price breaks through the regional line and retreats to stabilize.

Specifically, the price range to watch is around $29,300 to around $29,800.

In this range, Bitcoin may have a chance to rebound.

For Ethereum, it is noted that the lower long liquidation area is at 1830, and the upper part may be around 1870.

When analyzing the K-line chart, I noticed that Bitcoin has experienced a period of ups and downs, and it seems to have pulled back to the key point of around $29,300.

If Bitcoin is to continue to rise, it needs to hold the price range between $29,260 and $29,300 with an upward positive candle.

Looking at the overall trend, Bitcoin may be waiting for the trend of Ethereum. Therefore, it is recommended to pay attention to the performance of Ethereum, as it may affect the trend of Bitcoin. In technical analysis, it was also noted that Bitcoin had previously formed a consolidation triangle with a central axis around $29,300, a key price point.

To sum up, the price around $29,300 is a key support point for Bitcoin, and we need to watch for any action. In addition, we can observe from the smaller time period, whether there will be a bitcoin rebound action in the brow bone time period, which may be the time for us to cut into the transaction.