First of all, the interest rate decision in the United States in the early morning remained unchanged, and Powell and the Federal Reserve also set the limit for interest rate hikes. At the same time, market uncertainty has also been alleviated. However, some friends have noticed that the current downward trend may have paused.

As the market has experienced a significant decline, many people see this as an opportunity to buy at a low point. In the current situation, it is more inclined to expect a market rebound rather than further decline. From a macro perspective, market uncertainty has been alleviated, and selling pressure has weakened.

So, it is believed that this is a good opportunity for a short-term rebound. Seeking opportunities for a rebound in the short term would be a better decision than further decline. However, we should have some reference basis rather than blindly being bullish. The following is the personal reference basis of the author.

BTC 4-hour chart:

The first resistance level on the 4-hour chart is at 58300, and the second resistance level is at 59250. If the price breaks the first resistance, it is expected to retest 60000.

However, considering the current trading volume, the possibility of breaking the first resistance is still relatively low, so it is more likely to see sideways consolidation during the day. Only after consolidating at the bottom and raising the low point can we expect further price rebound.

The first support level on the 4-hour chart is at 56900, and the second support level is at 55900. We can set the first support as an important support level because it is the area where the previous low was formed. If the price falls below this support level, the author's view of further decline will increase.

But from the current perspective, I personally believe that this support level should be able to hold. I will focus on whether there is a situation of higher lows during the day and pay attention to the closing situation of the 1 to 4-hour candlesticks.

In today's trading, considering that BTC has entered into sideways consolidation after a significant decline, I will continue to maintain a bullish view and adjust the position appropriately.

In addition, near 56900 is an important support. Under the current circumstances, compared to being out of the market, it would be a better trading strategy to position long trades from a risk-reward perspective. If 56900 is supported, and a new market adjustment appears, the author will consider it as an opportunity to enter long positions.

5.2 Author's Short-term Pre-set Orders:

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Long first entry reference: 56900, defend 56400, target 58000-58300

Long second entry reference: 55900, defend 55400, target 56900

Short first entry reference: 58300, defend 58800, target 57500-57000

Short second entry reference: 59250, defend 59750, target 58500-58300

This article is exclusively planned and published by Shiyechen (WeChat public account: 币神师爷陈). If you need to understand more real-time investment strategies, how to get out of trouble, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Shiyechen for learning and communication, hoping to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% follow the trend; daily updates on macro analysis articles across the network, technical indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.

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