Master looks at the trend:
Bitcoin is experiencing a correction after testing 64K.
Although it has broken through the lower support line of the ascending channel, as mentioned by the master yesterday, the current price still holds the second support line of 62.7K and is rebounding in the short term.
The price is currently fluctuating within the box area, so I believe that we can switch to a bearish view when the time is right.
You can wait until it falls below the box and confirms the decline before making a judgment. Since the market bullish atmosphere is good, it is recommended to continue to hold the view of rebound after correction and look for entry opportunities.
Resistance level reference:
First resistance level: 63300
Second resistance level: 63800
When the price breaks through the first resistance level, there is hope for a further rebound. Therefore, when testing the first resistance, it is necessary to pay attention to whether the trading volume increases.
If the price breaks through the first resistance again, the possibility of rising will increase. Therefore, please pay attention to the support of 62.8K and use it as the basis for entry.
Support level reference:
First support level: 62700
Second support level: 62200
The first support level is also an important support in the short term. If the price of the currency falls below the first support again, it may form a lower low and open a downward channel to around 62K.
At present, the master believes that the support of the long lower shadow line formed at 62.7K provides a basis for the rebound. In this process, the key is to avoid the current K-line being swallowed by the previous positive line, that is, to avoid the formation of the negative line swallowing the positive line.
In today's trading, although the bearish sentiment has increased due to the break of the lower support line of the rising channel, the price is still fluctuating within the box range, so the view of rebound can still be maintained in the short term.
After the market fluctuated greatly, the direction has not yet been determined. Therefore, I suggest that you pay attention to the upper side of the box and wait for a breakthrough before determining the next trading strategy.
9.24 Master's short-term pre-buried order:
Long entry reference: 61700-62200 range, long in batches, defense 500 points, target 62700-63300
Reference for short entry: short in batches between 63300-63800, defense 500 points, target 62700-62200
