The trend of BTC is just as analyzed in yesterday's article. The 4-hour three-buy turned into a sell, and the downward trend continued as expected. When the article was published yesterday morning, the price of BTC was still around 69500, but by 11:30 pm in the evening, it had quickly dropped to 66051. The expected downward correction in the 4-hour period was within expectations, but the intensity was greater than expected, and it even directly pierced the lowest point of the 4-hour center at 66670 before starting a decent rebound.

There are two important meetings in the US tonight. The CPI data for May will be announced at 8:30 pm, and the interest rate meeting results will be announced at 2 am. It can be expected that tonight will be another battle between long and short positions, a bloody and stormy night. For the average retail investor, it may be best to observe and wait, as standing under a dangerous wall is not the act of a wise person.

Looking directly at the 4-hour chart, it can be seen that within the downward trend, there were only three waves, and the volume was decreasing below the zero axis. Therefore, the decline will not stop until a new pen center corresponding to the sub-level 30-minute level center appears. I believe that the most probable trend here is to form a pen center after breaking through the low point of 66050 again, completing the trend perfectly, and then moving up in the third segment of the 4-hour center.

However, there is important news to be announced tonight, and it is difficult to predict the impact of the meeting results on the trend. The possibility of continuing to break through the lower boundary of the 4-hour center with increasing volume cannot be ruled out, continuing to search for the bottom. For futures trading, it is suitable to observe, while for spot trading, it is advisable to maintain flexibility in positions, being able to advance and retreat freely.

The above analysis is for reference only and does not constitute any investment advice!

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