1.5 Day Market Analysis, Bitcoin Short-term Focus on the Strength of 1h Level Decline

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Yesterday we mentioned that Bitcoin needs to undergo a 1h level correction. The basic structure of the correction has emerged, now we just need to see if it continues to extend downward. Overall, Bitcoin's rebound in recent days has not broken through 100,000, so the probability of forming a 1h center that continues to decline is still greater. Therefore, in the short term, we can continue to wait and see if it will test near 90,000 again.

BTC

Due to the rapid changes in the market, the article can only make predictions based on the market changes at the moment of publication. Short-term traders should pay attention to the latest market changes, which should only serve as a reference.

1H:

1h level: The current 1h level rebound mainly depends on whether it will continue to extend down to the 91,000~90,000 range tomorrow. If the 1h correction strength is not significant here, and it continues to break above 100,000, then consider starting a new 4h level upward movement towards 116,000~120,000.

The suggestion for short-term trading is to mainly observe. No need to open short positions, wait for a correction position to go long which is more stable. At the same time, hold spot positions to prevent missing out on direct upward movements.

15M:

See if there is a consolidation of a 15-minute level center that continues to extend downward. If it breaks below 97,000 again, there is a probability of going towards 91,000. Conversely, if it breaks above 100,000, it negates the view that the 4h correction has not ended.

ETH

For Ethereum, let's observe the strength of the 15-minute level correction. Normally, we should look at the 1h level correction. If it falls below 3570 again, it confirms a 1h level correction. If the 1h correction materializes, there is a probability of continuing to test near 3100.

Trend direction

Weekly level: Direction is up, currently moving in a new upward trend at the weekly level with an overall target above 150,000.

Daily level: Direction is up, the upward movement at the daily level is expected to reach 120,000, and if it breaks through, then look at 150,000.

4-hour level: Direction is down, the 4h level correction can only be negated if it breaks through 100,000.

1-hour level: Direction is down, pay attention to the strength of the 1h correction.

15-minute level: Direction is down, pay attention to whether it breaks below approximately 97,000.