Daily Share
In yesterday's market, we said that Bitcoin should be able to hit 63,000 again, and it has successfully come out today, but today's upward momentum is slightly greater than expected. Originally, it was expected that the 1h level rebound would be around 63,000, but today it hit around 63,970.
Many people say that the Bitcoin callback is over and it will hit 65,000 in the evening. I personally think that under normal structure, Bitcoin should have another 1h level decline to around 60,000. Structurally, the 4h level callback structure is incomplete, so I think there will be another callback. Unless it breaks through 64,500 again in the early morning or tomorrow morning, then I think the structure has changed and the callback has ended ahead of schedule.
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：
Bitcoin rebounded from 59828 in the 1h level. From the rebound range, it has rebounded to 0.618 of the previous 1h level decline. For the time being, this is still a normal and reasonable rebound position. However, if the short-term continues to rush to 64500 tomorrow morning, then we must change direction and consider the possibility of the 4h level callback ending early.
Structurally, if Bitcoin fails to break through 64,500, it will normally need to undergo a third 1-hour decline to around 60,000 or 59,000.
15M：
At the 15-minute level, Bitcoin hit 63970 in the morning and then made a 15-minute level correction. We need to see if this 15-minute level correction falls below 62400. If it does, Bitcoin should be in the third 1h level decline. The expected 15-minute structure is shown in the yellow arrow in the figure above. If Bitcoin's current 15-minute level correction does not break 62400, then we need to see if the next 15-minute level rebound can reach 64000, as shown by the white arrow.
ETH
The same is true for Ethereum. Theoretically, there is still a 1h level decline to 2300, unless Bitcoin breaks through 2525 again tomorrow morning. In the short term, we need to pay attention to the current 15-minute level correction strength. Only when it falls below 2428 again can we believe that Ethereum will have a 1h level correction. Otherwise, we need to observe in the short term to prevent it from rising again.
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: The direction is downward. Under normal circumstances, the 4h callback has not ended. Unless it breaks through 64500 again, we need to turn
1-hour level: Downward direction, if it falls below 62400 again, it is considered to be a 1h level decline, and if it stays above it, it needs to be observed.
15-minute level: Direction down
