Daily Market Analysis – BTC This morning, we provided a brief overview of BTC's price movement. Next, we'll analyze the current market trend in detail across multiple timeframes. From a trend structure perspective, this area remains within the healthy pullback range of the right shoulder of a Fibonacci retracement level. There's dense resistance around 844 above, and support is converging around 735 below. From the daily chart, after touching the downward-sloping MA30, a sharp drop was triggered, ultimately resulting in a bearish engulfing pattern. This pattern, coupled with the selling pressure from the bearish candle, makes the short-term outlook less optimistic. The main focus should be on the resistance level when the price rebounds to the middle of the large bearish candle. However, the daily MA250 and the closed space formed during the previous bullish breakout haven't been reached yet. If the bears push the price down again, they will inevitably face a strong counterattack from the bulls. This is a good area for long-term trading and short-term profit-taking, so the visible risk in the short term is relatively limited. Looking at the 4-hour chart's medium-term structure, the bullish trend that began in mid-August has been completely shattered by the three downward consolidation zones previously mentioned by "Sugar Brother," as well as yesterday's decline. The current price action is within a standard downtrend on the bearish side of this timeframe. Any short-term rebounds will be limited in scope and unsustainable; chasing the price higher is not advisable, and one should be wary of a second, smaller-scale sharp drop after a brief rally. However, a rebound after the initial drop is relatively safe. At this point, please note the positive pullback on the daily chart and the end of the 4-hour bullish trend. Because the timeframes are different, the logic is not contradictory. The distinction lies in the gear principle discussed previously, which will not be repeated here. Those unfamiliar with this can find information in the pinned articles in this series. From the 1-hour and lower timeframes, the main price structure is highly correlated with the 4-hour chart, exhibiting a clear upward "tooth-like" pattern, while downward pullbacks are followed by large-scale support zones. In summary: After a large bearish candlestick on the daily chart, the price will likely remain consolidating at lower levels for a longer period, increasing uncertainty. Many investors are wondering if the daily MA250 presents a good entry point for bottom fishing. To put it simply, I don't know about entry points that promise huge returns. However, the objective support of the daily MA250 remains. This allows for short-term trading within a long-term perspective. If you have substantial capital and the courage to commit, you can consider long-term strategies (keeping sufficient funds available for another bottom fishing attempt). If you have limited capital or cannot tolerate unrealized losses, place a limit order for short-term trading within a long-term perspective. If the price rises, sell half of the order, and set a break-even order for the other half. If the stop-loss order is triggered, you've essentially held the stock. If a stop-loss order is triggered, you can continue this strategy based on higher-level price levels. Short-term resistance: 77365-78500; Short-term support: 73348-72699 (1:2 ratio, can also be split, mainly positioned near MA250); Monitor support level: 74910-74707 (quick in, quick out; avoid entry on sharp drops; valid for 8 hours). Long-term trading strategy: 67514-65116 (valid for 60 days) BTC