The 1-hour candlestick chart of Bitcoin shows that the market has taken two steps after the rebound after Bitcoin fell to 49,000. The first is 54558-57600; the second is 62745-57600; and after breaking through the small resistance of the first step 57600, the market retreated to verify the support level formed after the upward breakthrough of 57600 (the lowest level on Monday).
Currently, Bitcoin is still consolidating in the second step 57600-62745 range. This step-by-step rebound and rise basically does not lay the foundation for Bitcoin to have a second exploration. After the market goes up to the second step resistance 62745, the next target is 66,000-67,000.
After Bitcoin rose sharply last Thursday (August 7), the market went through 5 days of consolidation without rising because the technical side still needs time to improve. The 20-day moving average is downward, and the daily candlestick has not yet stood on the 20-day moving average pressure.
After Bitcoin reaches the second step resistance of 62745, the daily K-line will also stand on the 20-day moving average, and the short-term upward advantage of Bitcoin's technical aspects will be stronger.
