$BTC did not fluctuate much over the weekend and started a sideways trend! The overall weakness converged, with intraday fluctuations of only 1%, and it is currently running around 61000!

The current position belongs to the lower edge of the entire high-level box. If it effectively falls below 6w, it will be more difficult for the trend to recover in a short time. It is basically the last line of defense for bulls. Below 6w is basically a vacuum zone, and there is a lot of room for decline!

From the perspective of the daily Fibonacci level, the position of 60200 is exactly 0.618. Is it possible to start a reversal at this position? However, if the market wants to strengthen, it still needs upward volume confirmation!

Short-term support below 60000 59000

Short-term resistance above 63000 64000

In terms of operation, it is recommended to take more in the range of 60000-60200, and stop loss around 59500. Direct sales should still leave in time, don’t be scheming! Otherwise, a profitable market will lose money!