Daily chart
Daily level analysis and strategy of Bitcoin
Yesterday, although Bitcoin closed negative, the overall decline was not significant. After the big negative line on Monday, the small K-line for three consecutive days showed that the market was undergoing a weak rebound, continuing the technical form of weak correction. This pattern shows that after the big Yinxian falls, there will usually be a continuation on the second day and a new low may appear.
Technical pattern analysis
The current pullback is still running within the lower track oscillation range, and we need to pay attention to the downward force. If it does not break a new low, it means that the market is not extremely weak, and this situation is easy to fall into range oscillation. So, where this round of weak correction may continue is the key issue we need to think about in the future.
Key points
Downside support: 60600-60800
This is the stop line of yesterday's decline, and it is also the point to consider a bullish reversal when it is first touched. Because although the current decline is only a correction, the main trend remains bullish.
Operational strategy recommendations
Observe the downward force: Pay attention to whether the price will break a new low. If it does not break a new low, the market may fall into range shocks.
Support level backhand bullish:
Entry point: 60600-60800 range
Stop loss: below 60,000 points
Target: 61500-62000 range
Short-term rebound short selling:
Entry point: 62000-62500 range
Stop loss: 63,000 points
Target position: 61000-60500 range
4h chart
In the 4-hour chart of Bitcoin, the K-line shows a trend of continuous decline, and the price falls under pressure from 62500. Although the trend is weak, this downward trend does not have much continuity. Instead, it shows that the decline is weak and there is momentum for further rise.
Technical pattern analysis
Yesterday's analysis mentioned that the price is above 60600, and it is likely to be in a certain range of fluctuations. Somewhere in this pattern is likely to become a turning point for short-term changes, proving that the previous short-selling idea is correct, but we also need to be vigilant about the rebound that may occur at any time.
Key points
Short-term support: 60600
As mentioned in yesterday’s article, this position is the lower edge of the short-term oscillation range and has a strong supporting role.
Upper resistance: 62500
The price has fallen under pressure from this position, and we need to pay attention to whether it can break through again.
Operational strategy recommendations
Short-term rebound and long position:
Entry point: 60600-60800 range
Stop loss: below 60,000 points
Target: 61500-62000 range
Logic: The price has strong support around 60,600, and a rebound momentum is expected in the short term.
Short on rebound:
Entry point: 62500-63000 range
Stop loss: 63500 points
Target: 61000-60500 range
logic：The price is under pressure around 62,500 and has failed to break through many times, so there is an opportunity to short.
1h chart
In the 1-hour Bitcoin chart, the current support level is around 60,600 and the resistance level is around 62,500. If the market continues to fluctuate upward in the morning, it is very likely to directly rise unilaterally and break through the resistance level of 62,500 in the evening. The stronger suppression level is around 63,500.
Technical pattern analysis
The current oscillating pattern shows that the market is looking for direction, and the support level of 60600 is the key. If the price can continue to oscillate above this position, it is expected to break through the resistance of 62500 in the future.
Key points
Support: 60600
Resistance: 62500
Strong pressure position: 63500
Operational strategy recommendations
Short-term long position strategy:
Entry point: 60600-60800 range
Stop loss: below 60,000 points
Target: 62000-62500 range
Logic: The price has strong support near 60,600, and there is a high possibility of short-term upward fluctuations.
Breakthrough chasing strategy:
Entry point: Follow up after breaking through 62500
Stop loss: below 62000 points
Target: 63500 range
Logic: If the price breaks through the 62,500 resistance level, it indicates that the market may usher in a wave of unilateral rise.
Band long order strategy:
Existing positions: If you have already had long positions at a lower level, it is recommended to move the stop loss down to around 61,000 to protect profits.
New position: If the price breaks through 62,500, you can increase your holdings of long positions appropriately, with the target at 63,500.
Logic: Prices are expected to break through after volatility, and swing trading is more suitable for capturing larger market trends.
