BTC trend analysis:
Yesterday was the fourth day of the oversold rebound, which was a critical day for the formation of the bottom. Although the rebound did not exceed expectations, the support and resistance levels were between 60,600 and 62,300, and the results were basically in line with expectations. The small-level oversold cycle shows that there is at least one more chance to rise. BTC encountered support and rose when it fell back, but fell back under pressure. ETH performed strongly, the daily 5-day moving average has turned upward, and SOL also showed a positive signal, and the market may turn better again. However, the mid-line bottoming signal is not clear yet.
Market observations and suggestions:
Observing the list of gains, most altcoins rebounded strongly, which may lead to a higher probability of continued rise. It is recommended to pay attention to JUP and ROSE, both of which are expected to continue to rise. For BTC, the short-term pressure level is between 62,990 and 63,620, the first support level is 61,310, and the second support level is 60,590.
Overall, your analysis highlights the technical trend and market sentiment of BTC in the short term, and also puts forward suggestions for observing other potential areas. Continuing to monitor technical indicators and market dynamics will be key when choosing a trade direction.
