BTC Quote Yesterday we focused on the short-term support of 66,000. Combined with the chart pattern, we expect that if it cannot stabilize at 66,000, it will fall back for the second time. Our expected range is 63,000-64,000. The lowest intraday fall back was 63,600, which was in line with our expectations. The overall fall back was not large, mainly due to the lack of demand on the market and the continuous depletion of liquidity. The fundamentals and news had little impact. Seeing that everyone said that the decline was caused by Israel's trouble again, we can see from the trend of gold that the actual impact is not great. Combined with the volatility of the US stock market yesterday, it was simply a market behavior caused by insufficient demand. Not every wave of decline requires a reason. We are sure that 6w Under the circumstance of the mid-term bottom, the current decline is an opportunity for us to lay out. We can continue to lay out in batches in the spot market. We still need to do a good job of risk control in the futures market and operate around key points.
At present, from the hourly level, the rising wedge has broken down as we expected. The overall retracement is not large. It is mainly caused by insufficient liquidity on the market. The overall trend is currently viewed as shock convergence. After the retracement, we will see a rebound here. After the second high is formed, we will combine the volume to judge the next trend. There is no need to panic too much and act according to the plan.
In terms of points, the short-term support below is 63000 60000
The short-term resistance above is 65000 67000
In terms of operation, the retracement is in place. If it stabilizes at 64000, you can go long with the trend. Risk control below 63000. If it falls below 63000, the market will seek further lows. #BTC #ETH
