BTC rebounded to a new high of 71770 after 9 o'clock last night and quickly dropped to a low of 68360. The current price is 69200.

The analysis and deduction of the big cake yesterday showed a downward correction on the 30-minute level as expected. The community also promptly reminded to reduce positions after the big cake broke the new high last night.

The current pullback is only a short-term downward correction on the 30-minute level. The overall direction on the 4-hour level is still upward, and it is expected to break the historical high again. Those who trade on the 4-hour level do not need to panic. If you have good technical skills, you can use the buy and sell points in the 5-minute trend type to do short-term trading. For those who are not so good at bottom fishing, continue to hold and patiently wait for a clear structure to appear after the 4-hour triple buy upward segment before considering reducing positions.

It needs to be clearly pointed out that the levels in the K-line theory have fundamental differences from the traditional Western technical meaning of time frames such as 4 hours, 30 minutes, 5 minutes, and so on. In the traditional sense, 4 hours refers to the simple arrangement of 4-hour K-lines, while the 4-hour level in the K-line theory refers to the geometric forms defined by pens, line segments, pivots, trend types, etc., composed of 4-hour level K-lines according to the definition in the K-line theory. A 4-hour pen consists of at least 7 K-lines, and a line segment must take at least 3-5 days. Therefore, if you want to trade on the 4-hour level upward segment, the minimum holding period is also 3-5 days or more, and you basically don't need to watch the market in the meantime. The larger the level, the longer the holding period, which also touches on one of the most important trading principles in the K-line theory: leaving the level is equal to zero!

Back to the market, the 30-minute level has basically confirmed that it will undergo a 30-minute downward correction, and the correction has also entered the yellow pivot zone without a triple buy. If you need to reduce positions above 61000, you need to patiently wait for the 30-minute downward line segment to appear, and when the secondary trend type shows a divergence or consolidation divergence buy point, you need to replenish your position resolutely when the buy point appears on the small scale upward trend, otherwise it is highly likely to be a sell-off.

Looking at the short-term 5-minute chart, it went up three pivots from 62220, showing a trend divergence. A trend divergence will inevitably go through a reverse upward and downward three segments, and then observe the strength of the reverse three segments. The current operation is the second upward segment, as shown in the figure. Pay attention to whether the rebound will enter the pivot. If it does not enter the pivot and combines the second and third sells, the bearish side will continue to exert force in the short term. At least five reverse segments are required. Replenishing positions requires waiting for a 5-minute downward trend type to appear and then entering in batches when the first and second buys appear.

If you are interested in the K-line theory and want to obtain learning materials for free, watch public live broadcasts, participate in offline training camps for the K-line theory, improve your trading skills, build your own trading system to achieve a stable profit target, and use the K-line theory to timely escape the peak and bottom fish, you can scan the code to follow the public account, private message to obtain and add the WeChat of this account to join the group for learning!

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