In yesterday's market analysis, it was mentioned that BTC would likely make a move up to around 99000, and at the end of the article, it was advised to go long around 97600 and 97300, ultimately perfectly validating a space of 2000 points.
Market Analysis
There’s no need to elaborate too much on the 4-hour level; players looking to trade mid-term can refer to the article from the 2nd of this month and just pay attention to the risk-reward ratio.
Now let's talk about the 1-hour level. In yesterday's article, it was mentioned that if the price can stabilize at 97000 within the next three days, the 1-hour rebound would continue to extend upwards to around 99500 and 101000. However, based on the current structure, 97000 may struggle to form effective support. If the price quickly breaks below 96000, it would mean the end of the rebound and the start of a new round of 1-hour pullback.
Short-term
Currently, BTC is undergoing a 15-minute pullback since 98760 at 5 AM today. Initially, it was expected to rebound after testing 97520 around 8 PM, but the rebound was unable to re-establish above 98000. Given the current 15-minute structure and trading volume, the pullback is likely still ongoing, and prices are expected to continue oscillating downward to around 96000 later tonight.
Direction: Bearish
Sell Point 1: Current Price
Sell Point 2: Around 97900
