The Bitcoin daily candlestick closed above the daily Candlestick EMA20 level. As we mentioned yesterday, a successful breakthrough of the daily Candlestick EMA20 level is considered a bullish signal. With liquidity returning, Bitcoin may once again hit new highs in the near future. A more conservative approach would be to wait for the daily Candlestick to retest the daily Candlestick EMA20 level, demonstrate strong support, and then consider entering or adding to positions.
Looking up, the levels of 97770 and 98450 may act as strong resistance levels. We can see that last night, BTC faced resistance at the 97770 level with multiple 30-minute Candlesticks, which may have made many traders uneasy and opt for profit-taking, resulting in a price decline.
Safety first, dealing with the pain brought by profit retracement distinguishes traders with different styles.