Bitcoin 1-hour reference cycle:

After the unemployment benefit data was released yesterday, Bitcoin saw a wave of bullish market. Judging from the current market situation, Bitcoin has formed a converging triangle.

If the price is blocked in the upper 895-900 range, this position can be used as the second shorting point. The potential bullish position below is in the 861-851 range. If this range cannot be maintained, the price will most likely fall to 820. As for the lower price trend, it is still unclear.

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