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In the recent market analysis, we have always believed that Bitcoin is undergoing an uptrend from 64493 at the 4-hour level, and we firmly believe that this 4-hour uptrend will break through 73777 in the future. Therefore, we have not been shorting recently and have always focused on long positions during pullbacks.
However, the process has been tortuous. After the first 1-hour uptrend reached 72797, Bitcoin experienced a second 1-hour pullback. We originally expected the second pullback to be close to breaking through the range of 68200 to 68600, but the actual pullback exceeded our expectations, dropping to around 67518 at its lowest. In fact, Bitcoin only dropped about $700 lower than my expected low point. I still believe that the pullback in Bitcoin is a normal part of the 4-hour uptrend. However, my friends around me have been panicking, one by one asking me if it will drop below 60000.
I understand everyone's panic, because Ethereum has dropped more, and since everyone is playing more with altcoins, the drop in altcoins is relatively large. So, the pullback yesterday has already triggered a wave of panic.
The market is always like this. When everyone is panicking, prices often do not drop too much, but instead they directly form a V-shaped rebound. This indicates that in a bull market, when others are fearful, you often have the opportunity to make money.
From the current market structure, Bitcoin's trend has not deviated from our expectations and is still undergoing a 4-hour uptrend. Next, we will closely monitor when this 4-hour uptrend will end and how far it can go.
BTC
Due to the rapid changes in the market, this article can only make predictions about the market changes 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:
At the 1-hour level, the current trend is the ongoing third 1-hour uptrend. Whether this uptrend can break through 73777 remains to be seen. If it cannot break through directly, it is likely to build a 1-hour consolidation before making a new high. We will specifically observe the strength of the uptrend tomorrow.
The third 1-hour uptrend has not ended yet. In the short term, we still need to observe the strength of the next 15-minute pullback and the subsequent 15-minute uptrend patiently.
15M:
At the 15-minute level, the current trend is the ongoing second 15-minute pullback. We will observe the support around 70000 or 69500 during this pullback. After the second pullback, we expect there will be a third 15-minute uptrend, with the first target being 72797, and then 73777.
ETH
Ethereum is currently undergoing the third 1-hour uptrend within the 4-hour uptrend. Whether this uptrend can directly break through 3800 remains to be seen. At the 15-minute level, for the short term, we will pay attention to the support around 3520 or 3480 during the pullback. After the pullback, we expect there will be a third 15-minute uptrend targeting 3800.
Trend Direction
Weekly Level: Upward direction, currently continuing the rebound from 15476. Pay attention to the subsequent daily situation to determine when it will end.
Daily Level: Upward direction, adjusting the upward target to around 76000 or 80000.
4-hour Level: Upward direction, the 4-hour uptrend continues upward, with the target of breaking through 73777.
1-hour Level: Upward direction, the third 1-hour uptrend has not ended yet. In the short term, the small target is to break through 72797.
15-minute Level: Upward direction, after the completion of the 15-minute pullback, it will continue to advance.
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This article is time-sensitive. Pay attention to the risks. The above are personal suggestions and are for reference only!
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