Bitcoin Price Analysis: Bitcoins 6 Consecutive Positive Days and the Path Ahead

Bitcoin’s 6 consecutive positive days don’t be afraid of heights and don’t guess the top, it will fall back to 47200 and continue to rise!Happy New Year! Yesterday, the first day of the Lunar New Year, there was a one-day pause. The price of Bitcoin was still strong. Although there was a retracement, it still did not change the upward trend. This bullish wave is really fierce! The price is now at the 47700 level, and the pressure from the previous high is at the 48900 level. As for whether it will reach the 50,000 mark, Lao Yu personally thinks that the probability is low. During the Spring Festival, the Chinese stock market was suspended, and a large amount of funds poured into the currency circle in the short term. If the bullish forces add fuel to the flames, a large amount of funds will inevitably cash out and leave the market at a high level, and a sharp fall after the surge is inevitable! But this does not mean that Lao Yu is just going short, and his main thinking is still low and long.Bitcoin's daily K level has reached 6 and the big positive line has been directly pulled up. How many unyielding airmen have been buried in the middle? Short selling is next week, and Lao Yu will never try to eat the first crab of the Air Force. He would rather chase the short in the process of smashing the waterfall than try to guess the top shot. Still don't touch the short position. I would rather wait for the pullback to take the long position. If you can get the opportunity, go for it. If you don't get the chance, go for the long position. But if you chase the long position, you must be short of the position, and then you can't make a pattern. Just take the profit and run away. Short term.Bitcoin retraced to 47200 and 46900 during the day and then continued to bullish. The target is 47700-48200-48500. The defensive line is at 46700. Resolutely do not take orders or take heavy positions!The above is only my personal opinion. Investment is risky, so be cautious when entering the market!

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