1-hour BTC:

Currently, from the short-term 1-hour perspective of Bitcoin, a technical rebound is occurring due to the impact of the halving benefits, the delay in interest rate reductions, and other factors. The investor sentiment in the virtual asset market is gradually cooling off, and the recent market has been lacking catalysts for an upward trend.

Although a short-term rebound has occurred, there are relatively few positive factors for judging the bottom, so caution is still needed for intraday trading. The analyst also anticipates a short-term rebound, but it is more important to pay attention to whether the current rebound can be sustained and the increase or decrease in trading volume.

The first resistance level for the day is at 60,000, and the second resistance level is at 60,800. If the price stabilizes near 60,000, a further upward trend can be maintained.

Currently, it is in the converging triangle stage after the decline. If the closing price of Bitcoin is at the top resistance line of the converging triangle, the probability of retesting 60,000 will greatly increase.

In addition, the analyst expects a short-term adjustment near 60,000. If a small bearish candle appears instead of a large one within the consolidation range, it can be considered a buying opportunity.

The first support level for the day is at 59,000, and the second support level is at 58,270. If the price maintains the first support level, the analyst will maintain the bullish view. Furthermore, the analyst believes that entering the market requires a favorable average cost, as the current range around 59,000 is considered a supportive range, so we can enter the market for long positions during the retracement phase.

As the low point is rising and retesting the upper breakout of the converging triangle stage, the analyst still maintains the view of yesterday's rebound. Technical analysts suggest gradually increasing the support level to cope with the breakout range.

In addition, in today's trading, the analyst will mainly focus on short-term trading with a bullish view. We can use 59,000 as a support and a rebound area for judgment. Because there is a risk in chasing the rise near the retest of 60,000, it is recommended to trade long positions in the retracement area.

5.3 Analyst's Short-term Pending Orders:

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First entry for long position reference: 59,000, stop loss at 500, target 59,800-60,000

Second entry for long position reference: 58,270, stop loss at 500, target 59,000

Short positions are not currently considered. If there are plans for short positions, the analyst's live trading will take precedence.

This article is exclusively planned and published by Analyst Chen (WeChat public account: 币神师爷陈). If you need to understand more real-time investment strategies, how to resolve positions, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Analyst Chen for learning and communication. I hope it can help you find what you want in the cryptocurrency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% trend-following; daily macro analysis articles updated across the entire network, technical indicator analysis of mainstream coins and altcoins, and spot mid- to long-term replay price prediction videos.

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