Bitcoin (BTC) trend analysis and strategy suggestions
Last night, the trend of Bitcoin was in line with our expectations, and it smoothly fell back to the 55,000-56,000 range. Ethereum was a little behind. Although we saw it fall back to 2,250, the actual lowest price fell back to 2,277. In the short term, the current trend may consolidate to a 1-hour level center, and the 4-hour level rebound has not yet ended. It is expected that there is still potential to rise above 60,000 after the short-term consolidation. It is recommended to continue to wait patiently.
1 hour level
Yesterday's trend showed that Bitcoin has gone through a 1-hour level correction and is currently undergoing a 1-hour level rebound. In the short term, we need to pay attention to the breakthrough of 58500. If it succeeds in breaking through, Bitcoin tends to continue to rebound to the 5900060000 range. Next, there may be a 1-hour level correction, stepping back to around 56800, forming a 1-hour level center, and then breaking upward, with the target pointing to the 6050062000 range. In terms of strategy, it is still inclined to go long after the pullback, and consider going short at the end of the 4-hour level rebound.
15 minute level
There is a certain uncertainty in the current trend, and the short-term is undergoing a 15-minute level correction. As long as it does not fall below 57,000, it is expected to form a third 15-minute level rebound, with the target being the 59,000-60,000 range. If it falls below 57,000, it indicates that the structure may change and turn to a 1-hour level correction, with the target falling back to around 56,000, and then launching a 1-hour level rebound.
Ethereum Analysis
Ethereum needs to observe whether it can stabilize at the 15-minute level and make the third 15-minute rebound, with the target around 2400. If it cannot break through 2391, it is inclined that Ethereum is still in a 1-hour level correction. Overall, if Bitcoin continues to surge above 60,000 after consolidating at the 4-hour level, Ethereum may also build a center and surge above 2500. Therefore, if you see a 1-hour level correction structure in the short term, you can consider going long.
Comprehensive analysis at different time levels
Weekly level: The direction is downward, continuing the downward trend at the weekly level, with the theoretical support level around 49000, and the extreme support level in the range of 45000~48000. Whether it has ended at present still needs further observation.
Daily level: The direction is upward, and we need to pay attention to whether the 49000 support level below is broken.
4-hour level: The direction is upward. In the short term, focus on the rebound at the 4-hour level. The target range is 60,500~62,000.
1-hour level: The direction is upward. It is expected that it will continue to rebound and consolidate to form a 1-hour level center in the short term. The subsequent target will be above 60,500.
15-minute level: The direction is upward. We need to observe whether there is a rebound at the 15-minute level, and the target is above 59,000.
Operational Strategy
In the short term, continue to go long on the pullback, and wait for the 4-hour level rebound to complete before considering short position layout.
