BTC, the pin is withdrawn, the last chance to enter the market or the last chance to escape the top? 🤔🤔
Daily level:
From a structural point of view, the high and low points are indeed constantly decreasing, but from this structure to the pattern, a bullish wedge can be obtained. Although this wave plunged 9,000 points downward, it was still within the wedge channel after closing, and the pattern is still valid
And the volume is also the largest wave of panic decline since this year. When encountering such extreme volume, you need to pay close attention to whether the market will usher in a wave of reversal.
Then, we use the two tools of MACD and Fibonacci to check. This time, the pin also rebounded in the area of 0.618-0.666, and did not fall below the actual level.
The market has created a new low, but MACD has not created a new low. The bottom divergence can be used as a basis for subsequent bullishness.
Although there are multiple bullish bases, if you want to create a new high in the future, you need to break through the wedge structure with volume and stand firm before you can break through the previous high of 70081 and create a new high, or even a historical high. These are all later.
Small level:
From a structural point of view, the high and low points are constantly rising. It is obvious that the rising structure is the same. From the perspective of the extended structure, there is a bearish wedge. At this time, you need to pay attention to the upper 58250 area, that is, the opening price of the vertical supply column. There is often a strong and effective resistance level here.
When approaching the resistance level, you can close the long position or consider opening a short position. Pay attention to the K-line pattern. As long as a bearish signal is given, and the second test after the signal is given does not break the previous high, and the volume is shrinking and rising, it is the right time to enter the short position. The stop-profit position is supported below, and it is made after it stabilizes (only four pictures are shown, and there will be a bit too many lines drawn)
If the subsequent correction falls as expected, you can pay attention to the opportunities to enter long positions in the two areas of 52800 and 49700. As long as there is no entity with volume falling below and the second test is stable, there is a high probability of a reversal. It is also a second test at the daily level. It is a very good long position layout area
Support: 56870, 54680, 52880, 49740
Resistance: 58250
The space is limited. The next article will share the operation ideas after the volume breaks through 58250 with the above picture
