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2025/7/9 Bitcoin long order reminder
Enter the market at the current price to long Bitcoin, with a target near 112000 and a stop loss defense level at 107000.
Reason: The upward pattern is clear, a minor level shows a false breakdown, the data for short positions is relatively high, and it is highly likely that a wave of shorts will be cleared out before a top consolidation occurs, followed by further downward movement. Additionally, there is an "overbought signal" present.
Overbought signal reminder: After the supply and demand area ahead has extended, multiple crossover points of multiple support patterns and multiple resistance levels have appeared. The resistance level of 108000 has been completely stabilized and broken through. In trading, we choose the direction with a high probability, while low-probability events can be defended with stop-loss.
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