If you have reduced your position in Bitcoin in the recent price fluctuations, or if you have missed the opportunity to profit from Bitcoin altogether, don't worry. As mentioned earlier, on January 6th, liquidity will gradually return, the market will give a clear direction, and we only need to focus on the price behavior of Bitcoin, especially the price reaction near certain key levels.
First, looking at the 1-hour timeframe, the VEGAS tunnel is forming a possible golden cross, so we need to be patient, wait for the golden cross to form, and for bullish alignment and upward opening space to establish a bullish trend before taking action to enter. Moreover, in the purple shaded area, we can see that Bitcoin has been oscillating between 97,500-98,500 and occasionally testing lower levels. We also need to wait for Bitcoin's price to exit the purple shaded area and confirm a pullback before entering.
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f this is the case for smaller timeframes, what about larger timeframes? We can see that on the 4-hour timeframe, an opportunity to enter long under a bullish trend has already occurred. After the formation in the circled purple position, you can enter long, placing half of the stop-loss when breaking below the short-term VEGAS tunnel (144-169), and placing all stop-losses below the long-term VEGAS tunnel position (576-676). If the price near the long-term VEGAS tunnel does not break down, but rather recovers upwards, then you can consider adding to your position.
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