I have been too busy with work recently and have not paid attention to the price trends. I will update them today.
$BTC Let’s review the market first. It is still the Lafik wave and transaction distribution. We can see that the price rebounded near the 60k integer three times and was blocked near POC twice. It is currently blocked and fell back to near VAL.
A few points worth noting are that the price of 69.2k, which has been talked about a lot, has magically fallen again near 0.618 and VAH.
It is suspected that a slightly downward channel can be drawn. 59k is also the place where long liquidity gathers as mentioned many times. Three pin tests failed to knock down the long stop loss here. The intersection of 59k and the lower edge of the channel will be a very, very important and critical position.
If the price is supported at VAL, there will be a Gartley expectation, the right wing just falls near the integer of 70k and there is also a 4H level gap to be filled, there will be at least a short-selling expectation. Of course, if it continues to rise, a bearish bat expectation may be formed near the upper edge of the channel at about 72k, and here it coincides with the price near the upper edge of the channel.
At the 1H level, there seems to be a bullish wedge, which can also be regarded as a triple wave of exhaustion. There is a small gap near the bottom of the wedge at 61.5k. MACD is currently turning slightly upward. The short-selling force is exhausting. Note that the funding rate is a bit low and there are many people shorting. If the wedge breaks through, it will be a short-term bullish indicator.
Therefore, for bulls, focus on the bottom of the wedge around 61.5k and the bottom of the large channel, which is below 59k. For bears, focus on the suppression of 69.2k, the potential bearish bat near 70k, and the short-selling opportunity on the upper edge of the channel near 71.5k. The take-profit and stop-loss should refer to the opponent's potential opportunity zone respectively.
I don't like watching the market, I prefer the left-side trading strategy, the trading strategy is time-sensitive, all comments do not constitute any investment advice, I wish you all good luck~
