Trader X - Old Zheng's Wednesday Morning Thoughts Sharing

In the early morning, Bitcoin surged to test the 88000 level, but unfortunately failed to break through the previous high resistance, then fell back above 86000. Fortunately, the key support level is holding firm. Currently, the market appears to be in a choppy range-bound movement, but the support level is quietly rising, and the upward momentum can no longer be hidden. In the short term, we can continue to be bullish.

Switching to the 4-hour timeframe, the market has clearly entered an upward channel after the oscillation repair: support levels are consistently rising, forming a stable ascending framework, and the pullback pressure has significantly converged, with bulls quietly accumulating strength.

The more critical signal is: the price of the currency consistently runs just below the upper Bollinger Band, which is a rare state in the previous market conditions, enough to indicate the strength of the short-term bulls, who are firmly optimistic in the short term.

The price of Bitcoin is around 87000-87500, targeting 89000, and if it breaks through, we will continue to look at 92000.
Concubine around 2930-2950, target looking at 3150

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