Daily Sharing

We have been observing a 1-hour level retracement for the past two days, and it has successfully emerged from it. The current low is around 62200, which is in line with our expectations. In the short term, this retracement may develop towards a 4-hour level retracement, and we need to closely observe the support around 60500.

Ethereum has slightly broken below 2620, so we consider that Ethereum is likely to undergo a 4-hour level retracement here, with targets at 2500 and 2300.

BTC

Due to the rapid changes in the market in the short term, 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, it is uncertain whether the retracement to around 62200 has ended. We have not seen a clear signal of the end in the short term, so it is possible that it may continue to decline further, for example, to around 61000 or 60000. The key observation is the strength of the next 1-hour level rebound. As long as it does not rise above 64500, there will be a third 1-hour level decline.

Therefore, the preliminary estimate is that Bitcoin may already be undergoing a 4-hour level retracement, with a target of around 56000 or lower. A more cautious approach would require monitoring whether the price falls below 60500 or if the next 1-hour rebound shows a sell signal.

15M:

At the 15-minute level, we first need to see if the third 15-minute level decline directly falls below 61000 as indicated by the green arrow. Alternatively, we need to observe whether Bitcoin forms a 15-minute level consolidation and then extends downward as indicated by the yellow arrow. We will only consider a new 1-hour level rebound if it rises back above 63350.

Therefore, it is currently believed that there is a possibility of further decline at the 1-hour level, unless there is a short-term breakthrough above 63350.

ETH

Ethereum has fallen back to the midpoint of the previous 1-hour consolidation, so it is expected to undergo a 4-hour level retracement directly, with a target of around 2300. It is possible that the first 1-hour level decline in the short term has not yet ended, and we need to focus on 2550 below. As long as the next 1-hour level rebound does not pull back to 2784, there will be at least one more 1-hour level decline.

Trend Direction

Weekly Level: Downward direction, the extension of the weekly decline, theoretically around 49000, with a limit of 45000 to 48000. Whether it has ended currently requires further observation.

Daily Level: Downward direction, whether this decline has ended, observe whether Bitcoin can effectively break through 65000 in the near future.

4-hour Level: Upward direction, only a re-break below 60500 can confirm the end of the 4-hour level rebound. Currently, it is only a preliminary estimate of a tendency for a 4-hour retracement.

1-hour Level: Downward direction, the short-term 1-hour level retracement may not have ended, further observation is needed.

15-minute Level: Upward direction, there is an expectation of a short-term 15-minute level rebound. Only a breakthrough above 63350 can be considered as a 1-hour level rebound. Otherwise, there will be another decline after the short-term rebound.

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This article is time-sensitive, pay attention to the risks, the views in the article are personal opinions, for reference only!

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