Daily Sharing
Bitcoin (BTC) experienced a sharp drop to around 59000 yesterday, followed by a rapid rise to above 67000. Today, it has been fluctuating in the range of 65800 to 67200 all day, and is currently consolidating a 15-minute level center. In the short term, it is worth observing whether Bitcoin can retest positions around 60000 and 58000. If there is another pullback, there may be an opportunity for a 4-hour level retracement.
Since the daily rebound has not ended, it is advisable to continue to be bullish. Buy big during major drops and buy small during minor drops. After waiting for a short-term pullback, it is likely to continue to rise. Therefore, it is best to patiently wait for suitable positions to gradually enter the market.
BTC
Due to the rapid changes in the market, this article can only make predictions based on the market conditions at the time of publication. Short-term players should pay attention to the latest market changes and use this information as a reference only.
1H:
On the 1-hour level, the expectation was to have a 1-hour decline, followed by an upward and then a downward movement, and then end the 4-hour retracement and continue to rebound towards 70000. However, currently, Bitcoin has not successfully completed even a 1-hour level retracement. The observed short-term trend will determine whether it can retest near 60000. If there is another retest, there may be an opportunity to form a three-wave structure as shown in the chart, resulting in a 4-hour retracement. Specific movements will require further patience.
As mentioned, if it breaks above 68000, the rebound is likely to continue, and if the pullback has not been successful, it will continue to rise.
15M:
On the 15-minute level, after the V-shaped rebound, Bitcoin has been fluctuating in the range of 65000 to 67500 for half a day. It has formed a 15-minute level center, and there is currently no clear direction. It is uncertain whether it will continue to break above 68000 towards 70000 or drop below 65000 to retest near 60000.
In this market, if there is a retest, it would be a good opportunity to go long. If there is no retest, it is best to wait and see. There is no need to speculate on the direction in this fluctuating market. If you must speculate, it is better to buy some spot positions.
ETH
After reaching a new high again yesterday, Ethereum (ETH) has been fluctuating in the range of 3725 to 3900 today. It is uncertain whether it can break above 3900 and reach near 4000. Based on Bitcoin's trend, Ethereum should normally have a 1-hour level retracement to retest near 3450, but it is currently very strong. Overall, the current structure is difficult to judge. In a strong trend, technical analysis becomes somewhat ineffective, and it is difficult to determine whether it will continue to reach new highs or undergo a 4-hour level retracement.
In this situation, it is best to just hold spot positions and not short or chase long positions with high leverage. Rest assured, there will be a good return in due time. The more you try to be clever and speculate, the more likely you are to lose money.
Trend Direction
Weekly Level: Upward, currently continuing the rebound from 15476. Pay attention to the subsequent daily level situation for when it will end.
Daily Level: Upward, likely to go above 75000.
4-hour Level: Upward, there is an expectation for further 4-hour level retracement, but it is yet to be confirmed.
1-hour Level: Downward, the 1-hour level retracement has not been successful. If it does not break 68000, there is still some hope. Breaking through will continue to extend the new high.
15-minute Level: Sideways fluctuation, currently fluctuating in the range of 65000 to 67500, forming a 15-minute level center. There is currently no clear direction. Patience is needed to wait for a breakthrough.
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The article is time-sensitive, so be mindful of the risks. The above is only personal advice and is for reference only!
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