Today, the market continues to adjust its pace, with prices having fallen back to a dense support area below. Although the bearish trend is still continuing, this round of decline has gradually entered a short-term emotional release stage, and the cost-effectiveness of continuing to short is decreasing.

Last night, there was almost no significant rebound at the 1-hour and 2-hour levels; instead, there was a direct completion of a quick decline. Currently, the 1-hour and 2-hour have entered a low-level dullness state. Although the bears still hold the advantage, signs of weakening downward momentum are starting to appear.

The current market has entered a rather awkward stage:

• Shorting is likely to encounter technical rebounds;

• Buying the dip requires preventing another downside spike.

Therefore, a more reasonable approach is to wait for the market to show a quick spike and panic release before looking for opportunities, rather than frequently chasing orders in the middle position. It is important to note that such opportunities often last for a very short time, usually only 1 to 2 times a day, requiring patience.

From a larger cycle perspective, the current adjustment mainly occurs at the levels below the daily line, while the rebound structure of the weekly and monthly lines has not been destroyed, and the mid-to-long-term repair logic still remains.

₿ Bitcoin (BTC)

Viewpoint: Low liquidity environment, high-level rebound is bearish, and it is not advisable to blindly short.

After the high-level retreat yesterday, the market is still in a low liquidity operating state.

Technical structure shows:

• 1-hour and 2-hour levels have entered a low-level dullness, but the rebound strength remains weak;

• 6-hour, 8-hour, 12-hour, and daily levels are still in a high-level adjustment process, and this round of repair has not yet fully ended.

At the same time, the 30-minute and 1-hour levels still maintain a clear bearish trend, making it difficult for the short-term weak pattern to change until there is a breakout with volume.

Therefore, the current market is more suitable for maintaining patience:

• As the rebound approaches the pressure zone, continue to look for high short opportunities;

• If there is a sharp decline to key support, then consider participating in the intraday rebound.

The biggest feature of the current market is fast fluctuations, quick pace, and weak continuity. Rather than chasing the market, it is better to wait for the market to actively provide better trading positions.

Key Position Reference

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• 63000-63500-62500-61800

Resistance:

• 64288-64800-65200
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This article is published by [Huiying Community], representing only personal views. Due to a certain delay in information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and operate cautiously.
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