$BTC will soar, but it still has to drop, pay attention to this position:
【Today's Market Analysis - BTC - 10.22】
For technical analysis learning only, not as investment opening advice. Profit and loss are self-responsible.
1. Daily: After yesterday's signal of a top divergence, the price has been declining. However, on the daily level, it remains in a bullish trend, so there's no need to panic. The current correction's daily pullback position is at 655, with an extreme position at 645. Although it is in a long-term bullish trend, the price will temporarily not break the recent high of 69X. The overall price range will be approximately between 68~685, which will be a phase high. However, the current overall liquidity is poor; it is evident that retail investors are generally observing.
2. 4H: The current level again reveals the accumulation behavior of the market maker through candlestick patterns. The price will consolidate in the range of 666~675 and continue to accumulate. Based on the accumulation situation, we can determine whether it will continue to rise at this position or pull back to the daily correction position. Please wait for the signal.
3. 15Min: The price is in a downward channel and will continuously test the selling pressure around the key position of 675. If the selling pressure is substantial at this position, the price will pull back to the daily position mentioned. Please pay attention, do not consider the area around 668 as a support level; this is a false support level. After testing the selling pressure above 675, if it drops, it will directly break through this support level.
Intraday trading thoughts: Place buy orders at the daily pullback position. If you want to short, do not place orders; wait for the 675 position to test selling pressure and enter the market at market price.
