4-26 Bitcoin Analysis:
Yesterday, it was mentioned that there was a long order on the left side of 625-620, but it did not reach the lowest point near 627 and then rebounded and fell back at 652. If we look at the daily line, the previous wave of counterattacks was blocked and fell back at 670. This position is a chip-intensive area at the daily level.
So, at present, Bitcoin has shown a downward trend as a whole. From the perspective of Fibonacci, 0.618, that is, 625, is a defensive position for the bulls. This position was mentioned yesterday. This is the starting point of the big Yang K.
From the four small levels, this section of the market, from this wave of smashing, there is a Big Yin K line, then from this K line we can see that the selling volume above is very sufficient, so from a prudent perspective, it is not recommended to place an order on the left side. If the 625 position is tested again and is directly broken by a big Yin K line, then it is not a problem to go to the 60 position below.
So no matter whether you place an order on the left side or enter the market on the right side at this position, even if there is a rebound after being tested, you must place a break-even loss after rebounding to a certain point, because you don’t know whether the rebound will be blocked and fall again when it reaches 645 or even less, so break-even loss is a must, #BTC