Master looks at the trend:
BTC 4 hours:
After the decline, Bitcoin continued to show a bear flag pattern. If there is a sharp and sustained decline, the bear flag pattern may appear multiple times.
Since the current concerns about the sell-off of Mt. Gox have not been resolved, I will maintain an overall bearish view until a large positive trend reversal occurs.
Resistance level reference:
First resistance level: 55900
Second resistance level: 56750
At this stage, I believe that the bottom has been raised. If the current K-line closes at the 4-hour level, it may re-test the first resistance level.
If there is a rebound at present, attention should be paid to the upper resistance. And operations should be carried out with an adjustment perspective, which is also a good risk-return range.
Support level reference:
First support level: 55000
Second support level: 54300
The upper shadow of the current K-line has been formed. If it falls below the first support level, the selling pressure will increase. I predict that it may fall to 54k in the short term.
However, we can expect a technical rebound from a double bottom pattern near the second support level and consider entering ultra-short-term long positions.
Today's trading suggestions:
In today's trading, the bearish view can be maintained. Due to the weak buying power and limited rebound strength, the master suggests looking for additional upward divergence ranges for trading.
Because it only operates in the weak rebound range, it is a safer trading method.
Please refer to these suggestions when trading
7.8 Master's short-term pre-buried order:
Long entry reference: 53900-54300 range long in batches, defense 500 points, target 55000-55900
Reference for short entry: short in batches in the range of 56800-57200, defense 500 points, target 55900-55000#BTC走势分析 #BTC☀️ #比特币走势分析 #BTC☀️
