Good evening everyone, I have something to do today, updating in advance, the levels are for reference only.
Yesterday, in the analysis of the 15m level, it was mentioned that the BTC price would pull back below 94000 in the early morning. This morning, the price pulled back to 93655, which basically met expectations. The article ended with a recommendation to short around 96000, confirming a space of 2500 points.
Market analysis
After the price pulled back to 93655, it quickly rebounded to 96488, a rise of nearly 3000 points. Exceeded expectations.
Let's first talk about the 1h level. If the upcoming rebound can break through 97500 and stabilize above 97000, it would indicate that we are currently in a new round of 1h level rebound. The price will not drop below the previous low of 90000 but will continue to rise towards 99500.
Now looking at the 4h level, the current 4h pullback structure has not changed. If the aforementioned 1h rebound does not continue to break through after reaching 99500, but is instead pressured down and pulls back below 97000 again, it would indicate that the 4h pullback has not ended. The price will still drop to 90000 or even around 87000. However, breaking through 99500 does not mean the end of the 4h pullback; it just indicates that in the short term, it won't pull back to such deep positions. The standard for determining the end of the current 4h pullback is the price returning above 103000.
Short-term
The current 15m level is about to break through the short-term resistance (around 96500), and this is also the third time in the last 24 hours that the price has approached this level, indicating that the short-term bulls are relatively strong. Therefore, this third test is likely to break through 96500 and continue the 15m rebound to around 98000. If it fails to break through again, it will follow the black arrow as indicated.
Direction: Bullish
Buy point 1: Current price
Buy point 2: Around 95300.
