$BTC suggests holding cash, there will be a significant performance tonight.
【Today's Market Analysis-BTC-11.1】
Only for technical analysis learning, not as an investment opening suggestion. Profit and loss are self-responsible.
1. Daily: Although yesterday's spike reached 69, the daily chart is still in an upward channel. This round of pullback to 676~683 is an extreme retracement zone. Important data will be released tonight, if the data is negative, this price range will definitely be tested. The upper levels of 715 and 725 are significant short liquidity areas; if the data is positive, these two levels will surely be broken through, and there is hope for a surge to 75.
2. 4H: Starting from the 8 PM K yesterday, a volume-price washout pattern has emerged. There is no need for panic in the larger cycle; the direction remains unchanged. Currently, the bullish liquidity has been thoroughly washed out. Waiting for favorable data, the bearish liquidity will also be exploded. It is currently in a phase of declining trading volume and consolidation; it is recommended to hold cash and observe the direction tonight.
3. 15Min: Prices are consolidating around 70. Throughout the day, the overall market is likely to be in a consolidation oscillation and has reserved sufficient liquidity for tonight's performance.
Intraday trading thought: Hold cash and observe! Or go long on retracement positions.
