Observation of the crypto market in the afternoon: the rebound is beginning to emerge, and its sustainability remains to be tested
The market ushered in a wave of rebounds in the afternoon, especially the rapid recovery of altcoins after hitting a new low, but I am reserved about whether the bottom is established or not. The best rebound window may still wait for the release of non-agricultural data, after all, the current market liquidity is slightly tight. It is worth noting that the performance of indexes such as the S&P is strong, reflecting that funds may be overflowing from the crypto circle, and only the crypto field is deeply cleaned.
Daily line perspective overview:
- The intraday market experienced a brief bottoming out and then rebounded. The upper resistance is still stable around 60,500 points, and the extreme challenge is at 65,000. The bottom support is clear in the 56,000 area, and 57,000 is used as an additional line of defense in the near future.
4-hour chart analysis:
The current trend shows a shock pattern on the 4-hour chart. Only when it successfully stands above the 59,000 mark, the bullish signal becomes obvious. In the short term, the upper resistance focuses on 59,200 and 60,000 points.
Interpretation of intraday strategy:
- Bitcoin's recent sharp fluctuations are actually a direct reflection of the dual uncertainty of the US political economy. In the face of possible sudden negative news, market fluctuations and even liquidation are normal. Strategically, it is recommended that the first task is to hold positions steadily to ensure survival, and other concerns are temporarily shelved.
- In the short term, the hourly rebound has begun to show signs, and it is expected to seek a breakthrough in the range of 57700 to 58800. Once it stands above 58800, the rebound potential at the 4-hour level can be further observed, and it will be steady and steady and gradually advanced.
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