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Bitcoin fell below 59500 in the early hours of today, confirming a 1-hour level pullback. Currently, the lowest point is at 58112, but the 1-hour level decline has not yet completed. Overall, as long as it does not break 57000, there is still hope for another 1-hour level rebound towards 60500. However, structurally, it is likely to evolve into a 4-hour level pullback, especially for Ethereum, which is already undergoing a 4-hour level pullback. If there is a short-term rebound, there may be an opportunity for short selling.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market conditions 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:

For Bitcoin's current 1-hour level pullback, as long as it stays above 57500, there is a possibility of another trip to 60600. If it falls below 57500, it will likely confirm a 4-hour level pullback, followed by a second 1-hour level rebound and a third 1-hour level decline. The overall target for the pullback is around 54000, as indicated by the white arrows in the image.

If the 1-hour pullback does not fall below 57500, there is still a certain probability of revisiting 60600, as indicated by the green arrows in the image.

Currently, the probability of a direct 4-hour level pullback has increased, so short-term traders should prepare a trading plan.

15M:

At the 15-minute level, it remains to be seen whether it will consolidate a 15-minute level range before continuing to decline, as shown by the white arrow trend, or if it will go directly below 57800.

Personally, I am inclined to believe that 57500 may not necessarily hold, so it is not suitable for short-term long positions, and it is necessary to wait for the right signals.

ETH

Ethereum is likely undergoing a 4-hour level pullback. Currently, the first 1-hour level decline is focused around 2210, with subsequent attention to the second 1-hour level rebound and the third 1-hour level decline. The overall 4-hour level decline may have the potential to revisit around 2100 or the 2000-2100 range.

If it falls to the expected target level again, I would still set a stop loss at 2000 and try to buy spot, which offers good value for money.

Trend Direction

Weekly Level: Downward, the extension of the weekly decline, theoretically around 49000, with a limit of around 45000-48000. Whether it has ended or not still needs to be observed.

Daily Level: Upward, watching whether it will fall below 49000.

4-hour Level: Downward, the probability of a 4-hour level pullback is relatively high at the moment.

1-hour Level: Downward, currently undergoing a 1-hour level pullback, with the expectation of a possible 1-hour level rebound tomorrow afternoon, with resistance at 59750.

15-minute Level: Downward

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The article is time-sensitive, so please be aware of the risks. The views expressed in the article are personal opinions and are for reference only!

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