In the volatile market, the trend of big opening and closing is often fleeting.
It is the ability that every trader needs to look at the rise and fall rationally with a calm mind, and then grasp the buying and selling points!
After yesterday's fluctuation, the daily line structure is still on the long side,
but the current BTC at the 12H level,
shows a structure of falling relay,
which plays a connecting role in the reversal of the medium-term long and short trends.
For short-term traders who focus on the 1H level,
the current price operation space is not large.
In the medium and long-term direction, the average holding cost of this range has been repeated in recent days, which is 66940 (the current low point of the callback is also in this area), that is, in the context of 12H going out of the falling relay, the medium and long-term holding cost of 66940 is a watershed. The price is stable above 66940. After sideways trading, the market will still maintain the momentum of rapid upward rush. If it falls below 66940 (4H entity) and does not recover the daily line, the oscillation cycle will be extended.
The best way to digest the falling relay is to shrink and trade sideways at this level. It takes at least 3 to 5 days to show up on 12H, so there is not enough time for this point at present. We will temporarily exclude it and wait for the time to come. Let's find the short-term operation point first.
In the short term, there is support in the range of 66660~66940, but this range is only for medium and long-term defense. Short-term traders with independent trading ability should watch the market. Due to limited space, the stop loss is placed at 65960 (4H entity).
There are two centers in 4H. The upper one has been repeatedly ravaged, and the support strength is questionable. There is a short-term rebound point with more room for sharp decline. Refer to the upper track of the oscillation range below 64730~64028 in the figure.
