$BTC 4H 54xxx key position reached

After a parabolic decline, the price fell below the important low point and accompanied by a large increase in volume, and the short-selling force was temporarily exhausted. After the last wave of decline, the market began to rebound. 54xxx is the key position preset before, and it has now been reached. At this position, I began to gradually stop the profit of the short position of altcoins. Although the rebound is considerable, I did not chase the high at this position.

For short-term long positions, you can pay attention to the retracement of the 547-55000 range. The potential pressure levels of the hourly rebound are 575xx and 587xx respectively. The rebound is currently suspended at the previous band low. After a fast market, I tend to play a shock game for a period of time before deciding the direction, so I will not participate for the time being.

57000 is temporarily regarded as the key divergence position between long and short positions. If it breaks upward and retraces and no longer falls below, it can be regarded as a signal of trend reversal.