12.23 View 🌈
The midnight short-term drop has closed at 2000 points, which validates my thoughts. The big coin (Bitcoin) has shown a weak rebound on the 4-hour chart, indicating that selling pressure below is not diminishing, and the low point of the big coin is precarious. This week's 90,000 defense battle, if the price refreshes the previous low (908) again, then this rebound will not be too strong. At that time, even the middle track won't be able to bounce up, and there will be no suspense for the bulls. We will look back at the 80,000 big coin.
In the short term, we see a TD9 appearing again on the 4-hour chart, which means this is either a bottom or just a false signal. I have not seen a resonance in the purple and gold volume below. In the smaller timeframe, we are watching the 947-940 range. If it breaks below this, the market will likely start to go down again, and the space is quite large. First, we will see if it can hold at 922. During the day, we will pay attention to the price around 967 to see if it can stay above to stop the decline.
I have said that we should take it step by step in the short term; this is currently the safest approach, as the patterns have all died. A break below 936 will likely refresh the previous low (922). Support to watch is 936-922; if it breaks below, we should keep a close eye on the 908 situation. This is the most promising position to catch this low. In short, as long as we do not break below 908, we can consider a light entry. Make sure to keep a stop loss in place.
Reference range 951-947 directly for a long position. If it does not break 970, add to the position, and look down for a break below 922.
