Daily Share
Bitcoin experienced an accelerated decline last night, falling below 62,000 to a low of 60,164. The first 1-hour decline exceeded expectations. It was originally expected that the first decline would reach around 62,000, the second 1-hour decline would rebound to 65,000, and the third 1-hour decline would fall to 61,000 or around 60,000. As a result, the first 1-hour decline exceeded expectations.
This is the market situation this year. The correction often exceeds everyone's expectations, and the rebound often exceeds everyone's expectations. Many people always think that their entry position is still okay, and they can sit back and relax with the contract. As a result, everyone is honest again after the decline last night. The essence of the contract is a swing trade. When it is time to stop profit, you still need to consider stopping profit, otherwise the originally profitable orders will often turn into losses.
The current first 1h level decline may still need one last wave of retracement, and then a second 1h level rebound. After that we will have a third 1h level decline. Overall, we need to wait until the third decline is completed before considering a subsequent stronger rebound.
BTC
Due to the rapid changes in the short-term market, the article can only predict the market changes at the moment of publication. Short-term players should pay attention to the latest changes in the market and use it as a reference only.
1H：
The current first 1h-level decline is expected to fall back one more time, and the lower side is around 60,000 or 59,000-60,000. As long as it does not fall below 59,000, the short-term trend should be a second 1h-level rebound, and the rebound should focus on around 63,500. After the rebound, there will be a third 1h-level decline, and the third one will look at the support around 58,000.
15M：
At the 15-minute level, since the 15-minute level decline of the three sells last night did not diverge, after a 15-minute level rebound during the day today, another 15-minute level decline is expected to see whether it will fall back to around 60,000 or the 59,000~60,000 range.
If a divergence is produced after another pullback, the next step should be a 1h level rebound.
ETH
The 1h-level decline of Ethereum should be followed by a 15-minute-level correction, with attention paid to around 2400 or the 2390-2400 range. If this 15-minute-level correction diverges, then tomorrow there will be a 1h-level rebound, with attention paid to around 2530. There will be a third 1h-level decline, with attention paid to around 2340 below.
Trend Direction
Weekly level: The direction is downward. Theoretically, it is almost around 49,000. Whether it is over or not still needs to be observed, but the probability of a weekly rebound is increasing.
Daily level: The direction is upward, and the range of 67000~70000 should be continued in the short term
4-hour level: Downward direction, short-term view of a 4h level callback, the initial target of 61000 has been broken, the second target is 58000
1-hour level: The direction is upward. It is expected that the short-term rebound will be a real 1-hour rebound, and it will continue to fall after the rebound.
15-minute level: Direction downward, looking at the support range of 60,000~59,000
