Daily Sharing

In the past week, Bitcoin first hit near 59600, then quickly rebounded, reaching a high of 67232, and then gradually fell back. In our expected structure, the first 1-hour rebound of the big cake should rebound from 59600 to near 67000, and then go through the second 1-hour callback. As long as the second rebound does not fall below 62000, there will be at least a third 1-hour rebound back to near 67000.

The first rebound in our forecast went very smoothly, but the problem mainly occurred in the second callback, which continued to extend and has not ended yet. Currently, the lowest point has reached 62391. So everyone is a bit panicked, wondering if the big cake is going to continue to plummet.

First of all, I can only say that the big cake has not fallen below 62000, so I can't say for sure that it will continue to near 59000. If there is no rebound tonight or tomorrow, further decline is possible. It still needs time to observe. Secondly, if it does indeed fall again, it is still an opportunity to bottom out in this stage. Those who already hold spot positions can rest assured and not panic. Finally, the current weakness does not mean it will continue to be weak. Strength and weakness can change at any time. In the state of an ongoing bull market, the current situation is like the darkness before dawn, the road may be bumpy but can be stable.

BTC

Due to the rapid changes in the market, this article can only make predictions about the market changes at the moment of publication. Short-term players should pay attention to the latest market changes and use this information as a reference only.

1H:

On the 1-hour timeframe, the expected third 1-hour rebound has not been successful so far. It is still running the second 1-hour callback. Based on the structure of this callback, it could actually be ending. Currently, we are still observing whether the third 1-hour rebound can be successful. If it does, we will observe its strength and see if it can go above 67000.

The main support below in the short term is around 61800 to 62000. Breaking below this range means the market may fall to near 59000 again. Staying above this range means it needs to go through the third 1-hour rebound. Breaking above 64200 again is considered the start of the 1-hour rebound.

15M:

The continuous downward trend on the 15-minute timeframe has left many people confused. This is normal. Keep a calm mindset and be patient to observe. Currently, a 15-minute rebound is expected. Pay attention to the strength of the rebound. If it can break above 64200, there is hope for a 1-hour rebound. If it doesn't, there will be another 15-minute pullback.

ETH

Compared to Bitcoin, Ethereum is currently relatively stable. In the weak market of Bitcoin, Ethereum's ability to quickly recover above 3100 is already quite impressive. Personally, if it can successfully rebound on the 1-hour timeframe, Ethereum can go to near 3300. The lack of rebound in the past two days is mainly due to the second 1-hour callback extending again. Short-term support is in the range of 3070 to 3050. Staying above this range gives a chance for further upward rebound.

Trend Direction

Weekly timeframe: Upward direction, currently a continuation of the rebound from 15476. Pay attention to the subsequent daily timeframe.

Daily timeframe: Upward direction, there is a certain probability that the daily rebound has ended, but it cannot be determined at the moment. We can only judge based on the strength of the recent 4-hour rebound.

4-hour timeframe: Upward direction, staying above 62000 still has the opportunity for a 4-hour rebound.

1-hour timeframe: Upward direction, currently still observing whether 62000 can hold and a 1-hour rebound can occur.

15-minute timeframe: Upward direction, pay attention to 64200.

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This article is time-sensitive. Pay attention to the risks. The above is only personal advice and is for reference only!

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