$BTC Technical Analysis
Last week review and forecast:
As we predicted in our analysis last week, the price of Bitcoin did close with a lower shadow as expected, and this pattern effectively slowed down the current round of downward trend.
Yesterday's market dynamics:
Affected by the funding rate, the price of Bitcoin showed a strong rebound yesterday. This rebound not only successfully broke through the key resistance level, but also formed a clear 4-hour level second step. From this trend, the short-term upward trend has become very obvious.
This week's outlook:
Based on the current market dynamics and technical patterns, we expect Bitcoin prices to continue their upward momentum this week. Investors should pay close attention to market dynamics and make corresponding investment decisions based on their own risk tolerance.
Risk warning:
Although the current market is showing an upward trend, investment is always accompanied by risks. When making investment decisions, investors should fully consider their own risk tolerance and be cautious about market fluctuations.
