It's 4 PM, and it's obvious that Bitcoin is preparing to continue its rally from the current position.
The US stock market isn't turning back, and the yields on 10-year, 20-year, and 30-year US Treasury bonds have also dropped. I think the Treasury's recent buyback has had some effect.
After breaking 【85,200】, it headed straight for 87,000. The previous two highs weren't broken, but this third time, I think it's aiming to break the high—things don't happen more than three times.
I don't know when the big correction will happen, but since it hasn't broken the high and then fallen back, I don't have much desire to short, nor do I want to chase longs.
If I were to chase, it would be 【buy above 86,200, add at 85,200, stop loss at 84,200】—this seems more reasonable.
For taking profits, 【at 87,300 definitely reduce position by half, keep the rest to break even】.
Where does the saying about breaking through after three attempts come from? "Things don't happen more than three times"—how can that describe a breakout?
My understanding is, the first time it reached 87,300, a lot of spot sell orders were consumed, then it pulled back, and many spot sell orders were placed above again.
The first time consumed sell orders, the second time continued to consume them, and some even took profits early. On the third rise, if the sell orders weren't replenished, the rally would be smoother.
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