Market Review and Technical Analysis
Overall trend
The overall price range of Bitcoin is slowly moving downward. The intraday gains were reversed in the early morning. The current low is close to the support level of 56,500, but it has not yet broken through, and the trend remains in a range of fluctuations. If it falls below the support level of 56,500, the short-term consolidation pattern will be broken, and the price is expected to further drop to the 55,000 level.
Daily Line Analysis
Key Support: 56500.
Potential downward target: 55,000.
Overall trend: Maintain range fluctuations, low support is key.
Four-hour chart analysis
Current status: The trend is in a high-level correction. Last night’s rebound failed to break through the pressure above 58,800, and it stabilized at the middle track position before correcting again.
Price movement: The current price is around 57,600. It continued to fall in the early morning, and the previous gains were swallowed up, and the trend was weak.
Range consolidation: The market forms a range consolidation and price repair cycle, and there is expected to be a risk of downward exploration.
Recommendations
Comprehensive analysis
Bitcoin is still bearish during the day, and the short-term rebound failed to break through the key suppression level. The overall rebound short-selling strategy is maintained. Note that the short-term market reversal is fast, and you must pay attention to risk control and profit control.
Specific strategies
Short Order Strategy
Entry point: When it rebounds to the 58600-59000 range, arrange short orders.
Key suppression: focus on the 59500 position.
Defense point: set at 60200.
Stop loss point: set at 60700.
Target point: The first target is 57300. If it falls below, it can look to 56900. After further break, you can continue to hold.
Long order strategy
Entry point: Light position to arrange long orders at 56500.
Defense point: set at 55300.
Stop loss point: set at 54900.
Target point: pay attention to the strength of the rebound and adjust the target flexibly.
To sum up, the intraday operation recommendation for Bitcoin is to continue to focus on shorting on rebounds, pay close attention to changes in key support and resistance levels, flexibly adjust strategies, and ensure the stability and security of transactions.
