In yesterday’s article, it was clearly pointed out that if the 1-hour level rebound strength cannot break through 30450, it is likely to form a 1-hour level center and then continue to fall. Therefore, there are some doubts about whether the rebound last night was at the 4-hour level. According to the time limit of yesterday’s article, it can be judged this morning whether it is a 4-hour level rebound. After waking up this morning, the rebound on the market did not show a 4-hour level trend. Therefore, in the internal group this morning, it was suggested that everyone take profits in batches. At the same time, corresponding reminders were also made in the communication group and Weibo. Because the current rebound strength is not strong enough, it is necessary to pay attention to the high probability of breaking down.
For Bitcoin: Short-term trading is due to rapid market changes. This article can only predict the market changes at the time of publication. Short-term players need to pay close attention to the latest market changes. For reference only
At the 1-hour level, yesterday's rebound did not form an upward trend, so the 4-hour level decline is likely not over yet. It is expected that there will be a decline away from the 1-hour level center. Since Bitcoin repeatedly tests the support near 29,500, in general, if the number of tests is too many and the time is too long, the probability of being broken in the end is high.
Therefore, the final result is a direct drop below 29500 and into the 28500~27500 range. You need to be prepared for these positions and pay close attention to whether there is a divergence signal when Bitcoin falls and follow the market.
At the 15-minute level, the current downward momentum is relatively large. Continue to pay attention to the situation at 29500 to see whether it will pull back to 29500 or directly start the accelerated decline at the 4h level. However, overall, the 1-hour decline is expected to continue until tomorrow morning. Observe the decline strength. The upper short-term pressure level is around 29500. If the rebound does not break through this position, it is expected to continue to fall. Only by breaking through 29500 can the 1-hour rebound be continued. Therefore, it is not recommended to blindly chase the short position for the time being. The probability of betting on a break near the important support level is not high. It is better to wait for a rebound opportunity before short trading, which is more stable.
