Influenced by the speech of Federal Reserve Chairman Powell in the early morning, the price of BTC fell by more than 5,000 points, and once fell back below 100,000, which perfectly confirmed the prediction in the market analysis on the 17th that the 1h level would fall back to around 100,000.
Market Analysis
First, at the 4h level, the price this morning directly fell back to 98744, not only falling below the 100,000 mark, but also falling below the large-scale rising channel. If the price falls back below 98,000 again, there will be a 4h level correction, and the price is expected to fall further to 94,000 or even fall back to the 90,000 mark again. But if the price can rebound and break through 105,000 before that, the rise will continue, and the next target is still 112,000.
Turning to the 1h level, the article on the 17th predicted that the 1h level correction from 108366 on the 17th might eventually fall back to around 100,000, but this morning 100,000 was directly lost and the price fell to 98744. Although it quickly recovered above 100,000, it failed to form effective support at 100,000. Whether the next 1h correction will end depends on whether the current rebound can break through 104,000 in the short term and continue to hold the 100,000 mark in the next correction. If the price falls under pressure at 104,000, the next correction will test the 100,000 support again or fall back to around 99,000 again.
Short-term
From the current time point of view, the rebound from 98744 this morning has been running for 12 hours. If it fails to break through 102500 and continue the rebound, then there will be a 15m level retracement later in the early morning, causing the price to fall back to around 101000 again. If it can break through 102500 in the next 2 hours, the rebound will extend upward to below 104000 later in the early morning and daytime. $BTC #BTC走势分析 #BTC☀
Direction: Sky
Selling point 1: Current price
Selling point 2: around 102800
Selling point 3: around 103500
