In the early morning, influenced by Federal Reserve Chairman Powell's speech, the BTC price dropped by over 5000 points, briefly retracing below 100,000, perfectly confirming the prediction made in the market analysis on the 17th that the 1-hour level would retrace to around 100,000.

Market Analysis

First, on the 4-hour level, the price directly retraced to 98744 this morning, not only breaking below the 100,000 mark but also breaking below the larger rising channel. If the price retraces below 98000 again, it will undergo a 4-hour level correction, and the price is expected to further drop to 94000 or even retrace again to the 90,000 mark. However, if the price can rebound and break above 105000 before that, the uptrend will continue, with the next target still at 112000.

Back to the 1-hour level, the article on the 17th predicted that the 1-hour level correction starting from 108366 on the 17th would likely retrace to around 100,000, but this morning the 100,000 mark was directly lost. The price dropped to 98744, and although it quickly recovered above 100,000, it failed to form effective support at 100,000. Therefore, whether the 1-hour correction has ended still needs to be observed based on whether the current rebound can break through 104000 in the short term, and whether it can continue to hold above the 100,000 mark in the subsequent pullback. If the price is under pressure and falls back at 104000, the next pullback will test the 100,000 support again or retrace to around 99000.

Short-term

Currently, from a time perspective, the rebound starting from 98744 this morning has been running for 12 hours. If it cannot break through 102500 to continue this rebound, then later in the early morning, there will be a 15-minute level pullback, causing the price to retrace again to around 101000. If it can break through 102500 in the next 2 hours, the rebound from early morning to daytime will extend upwards towards below 104000.$BTC #BTC走势分析 #BTC☀

Direction: Short

Sell Point 1: Current Price

Sell Point 2: Around 102800

Sell Point 3: Around 103500