BTC 4 Hours:

After falling below 61000, the current price of Bitcoin has returned to the previous downtrend line. Although the downward trend has increased, I personally believe that if the price continues to fall, it will actually be a good buying opportunity.

The first resistance within the day is at 61800, and the second resistance is at 62820. Currently, it seems that only when the price can return to the vicinity of the first resistance, BTC can switch to a bullish trend. Considering that the previous downtrend line has been breached, it needs to be transformed from a support level to a resistance level in the short term.

In addition, I believe that even if there is a rebound in the short term, the downside space still holds. Before breaking through the downtrend line again, I will continue to maintain a bearish mindset.

The first support within the day is at 60230, and the second support is at 59000. In the short term, I will consider the first support as the low point, so short-term trading can attempt a short-term rebound near the first support. If it falls below the first support, the downside space will further open up, and my medium-term bearish target will be down to 59000.

Therefore, in today's trading, I will maintain a mainly bearish mindset and trade accordingly. Secondly, during the rebound, due to the strong resistance above, I will plan to focus on the resistance level and adopt a bearish strategy.

If BTC wants to switch to a bullish trend, it needs to break through the previous downtrend line or the first resistance level.

5.9 Short-term Pre-set Orders by Me:

Long entry reference: Buy in batches in the range of 59900-60300, defend 500 points, target 61000-61500

Short entry reference: Sell in batches in the range of 61600-62000, defend 500 points, target 60800-60300

This article is exclusively planned and published by Chen (WeChat public account: Coin God Chen). If you need to know more about real-time investment strategies, how to get out of trouble, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Chen to learn and communicate. I hope 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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