Daily Share

The updates were a little late these two evenings, mainly because our community’s trading training course started, and I spent 2 hours giving lectures to everyone in the evening, so the article was written a little late.

In the recent market, the first wave of Bitcoin's decline fell from around 66,500 to around 59,800. Then it rebounded from around 59,800 to 64,478, so many people thought that Bitcoin's correction was over and that it would soon go above 66,000. I personally insist that the 4h level correction has not ended, and it will fall back to around 60,000 or lower. Some people have raised doubts, and some have left messages saying that I am bearish and some have left messages saying that I will miss out on my bearish view. In fact, the structure of the market shows that the decline has not been completed, so my personal thoughts will not be disturbed by too many other things. In addition, our analysis also divides certain critical points, and only when the critical points are broken will the views change.

In the short term, the third 1h level decline here needs to be observed. If it can fall back to around 59,800 again, the overall 4h level correction will face the possibility of ending at any time. Therefore, it is not recommended to be overly bearish at present, and look for opportunities to observe bottom-picking opportunities.

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：

At the 1h level, the third 1h level decline is currently in progress. This decline is about to end, and there will be at most one more short-term decline. At present, we need to pay attention to the strength of the short-term decline. If the big cake falls back to around 60,000 and does not fall below 59,800, there will be a certain probability that there will be another 1h level rebound to around 63,000 to build a 1h level center, and then fall below 59,800 to complete the overall 4h level callback. As shown by the blue arrow in the figure above.

Or if the 1h level decline continues to break through 59,800, as shown by the white arrow in the figure above, then this will end the 4h level correction at any time, and then a new 4h level rebound will break through 66,500.

In either case, short selling is not recommended in the short term, and the market is more likely to go long after a pullback. Then, consider whether the 4h decline is a central extension or a direct end to start a new rebound.

15M：

At the 15-minute level, after falling back to around 60,000, regardless of whether it falls below 59,800, the short-term trend will tend to be that this 1h level decline has entered the end. It is expected that there will be at least a 1h level rebound to around 63,000 or higher tomorrow and the day after tomorrow.
 

ETH

The same is true for Ethereum. Consider two situations based on the strength of the 1h level decline. If the current 1h level decline reaches around 2350 and cannot go down, then the short-term trend may consolidate a 1h level center and then fall, as shown by the yellow arrow in the above figure. First, there will be a 1h level rebound to around 2500, and then another 1h level decline to around 2300 or 2250. If the current 1h level decline can fall back to 2310, then the overall 4h level decline can end at any time, as shown by the green arrow in the above figure.

The specific trend still needs to observe the strength of the decline in the early morning.
 

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. The decline at the 4h level has entered the end. Let’s observe tomorrow morning to see if it ends directly.

1-hour level: The direction is downward. The decline at the 1h level will see whether it will fall back to around 60,000 or break below 59,800.

15-minute level: Direction down