In-depth analysis of BTC two-hour chart
The current bitcoin market has stabilized initially. According to the current trend, it is highly likely that there will be a small-scale rebound during today's daytime.
However, it should be noted that after this round of rebound, the market still has a downward trend.
The specific analysis is as follows:
First, in the hourly trend, the bitcoin price has experienced three retracements, resulting in three hourly bottom divergences. For details, please refer to the white marked part.
This bottom divergence usually implies that there is a need for upward price correction in the short term, which in turn triggers a rebound.
Second, in terms of the rebound amplitude, if the market shows a weak rebound trend, its price is expected to rebound to around 94,500; and if there is a strong rebound, it is expected to reach the 1-hour bearish OB position.
Third, judging from various factors, in the next week, the overall bitcoin market will be in a volatile market pattern. In view of this, while investors are paying attention to the trend of Bitcoin, they may wish to pay more attention to other currencies in order to explore more potential investment opportunities and market dynamics in the diversified cryptocurrency market.
