Bitcoin is suppressed by the four-hour channel!

Two days ago, Bitcoin returned to the previous high of 73,000, which once again boosted everyone's emotions. However, from the perspective of the four-hour time window, it only returned to the previous high area, hit the upper edge of the four-hour channel, and was oversold at the second level, and then fell back.

Why is the strength of the oversold entry so strong at the upper and lower edges of the channel in recent times? First of all, we need to make it clear that is Bitcoin still a trending market? From a structural point of view, the four-hour time window has gone through two highs and two lows to confirm that it is oscillating. From the perspective of the moving average, the four-hour moving average fits and does not meet the trend conditions. I have said before that when trading, don't be stubborn, don't be a die-hard bull or die-hard bear, be a sly one. You must make corresponding strategies according to the current market environment. Yanzu who stacked buffs to enter the market to short in the oscillating market, don't think too much, take part of the profit or push the stop loss. Yanzu who don't have a short position in Bitcoin is currently in the meat grinder area, control your hands and protect your principal.