Market Review
Bitcoin has fallen sharply recently, with the price dropping rapidly to around 58,000, testing the support of the 60,000 integer mark. Although the bearish atmosphere is still strong, it is reasonable to oscillate and repair the bottom after the oversold.
technical analysis
Daily chart
Trend: The short trend is significant, but there may be a shock recovery in the short term.
Bullish and bearish watershed: around 61,800.
Four-hour chart
Trend: Prices are moving rapidly downwards in a descending channel following the opening of the Bollinger Bands.
Short-term resistance: 61100.
Short-term outlook: Even if the price rebounds quickly to the 63,000 level, it will be difficult to change the bearish trend in the short term.
One-hour chart
Trend: Prices are rising slowly, testing the resistance around 61,000.
MACD indicator: The long and short volumes have changed significantly, and the fast and slow lines are rising at the bottom golden cross opening.
Short-term support: Pay attention to the upward strength, short-term resistance is around 61,000.
Recommendations
Robust Strategy
Short on rebound: Place short orders in the 61000-61800 range, target 59000, and set stop loss at 62000.
Aggressive Strategy
Short-term short selling: short selling around 61100, target at 60000, stop loss set at 61500.
Summarize
Although Bitcoin shows a strong bearish atmosphere at the daily level, there is a possibility of shock recovery in the short term. Investors are advised to pay attention to short-selling opportunities after the rebound to ensure the robustness and effectiveness of trading strategies.
