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Bitcoin Technical Analysis, $BTC Current Price 73,000
Focusing only on the 2-day and 3-day levels (for collection)
Looking at the 2-day level (Appendix Chart 1)
The 2-day KDJ J value has reached 111. If you only look at this, you might think to short, but that's not the case.
Because the D value is still very healthily moving upward and shows no signs of turning downward. This rally is not over yet.
Looking at the 3-day level (Appendix Chart 2)
Here, two structures are used; see the chart for details.
(Structure 2) The second golden cross of KDJ's D value is around 40, and (Structure 1) KDJ's second golden cross D value is also around 40.
A golden cross at 40 is quite solid, and the upward trend will continue 📈
And it can be seen that (Structure 2) clearly lasts longer and is more vigorous than (Structure 1).
This can also be confirmed by the corresponding RSI, leading to the same conclusion.
Summary:
No matter how many small-level trap setups there are, a trend must be viewed in conjunction with higher levels.
The higher level dominates the lower level, and multiple indicators should be used to find resonance points to determine the overall direction!