BTC 4-hour:

As the US labor market sharply slowed down and the possibility of interest rate cuts increased, the price of Bitcoin rose by more than 6%. In addition, with the release of employment indicators directly affecting inflation, the market also reflected expectations of easing inflation.

Since it broke through the previous day's 4-hour downtrend line mentioned in the article, I believe the trend has changed, so I will maintain a bullish view for the weekend market.

The first resistance level during the day is 62850, and the second resistance level is 63640. When the price breaks through the first resistance area, we can expect Bitcoin to retest the 63000 area.

In addition, due to selling pressure above, there may be a period of consolidation, and it can be preliminarily determined that a bottom is being formed below. I personally believe that there is a high probability that the high point will continue to be refreshed, so it is very important to grasp the appropriate adjustments for trading.

The first support level during the day is at 62200, and the second support level is at 61720. If the price undergoes an adjustment, I believe the first support is an appropriate adjustment point.

Everyone can pay attention to whether a low point appears in the short-term trend, and the second support is a long upper shadow that appears after the formation of a large bullish candlestick. So if the price falls below the first support in the short term, I will consider a short-term bearish view.

In today's trading, considering that the price has broken through the trend line, I will maintain a bullish view for entry. In addition, due to the significant rise in the price of BTC, I am more inclined to restart the long position after forming a bottom, rather than directly making a significant rise.

Therefore, when the price enters the overbought zone, everyone also needs to pay attention to the direction of adjustment, while maintaining the bullish view of the pullback.

5.4 Short-term Pre-set Orders by the Master:

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Reference for long entry: 61800-62200 range, both long positions are acceptable, with a 500-point defense, and targets at 62850-63500.

Reference for short entry: 62850-63400 range, both short positions are acceptable, with a 500-point defense, and targets at 62200-61800.

This article is exclusively planned and published by Master Chen (WeChat public account: 币神师爷陈). If you need to understand more real-time investment strategies, how to get out of a predicament, spot contract trading techniques, operational skills, and knowledge of candlesticks, you can add Master Chen for learning and communication, hoping to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% going with the trend; daily updates on macro analysis articles across the network, technical indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.

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