Market Review
After the closing of the monthly line, Bitcoin rushed up in the short term and attempted to stabilize at the 63,000 line. The monthly line double-needled bottoming out, and attention was paid to whether 58,000 could form support for this important node.
technical analysis
Daily chart
Positive line closing: Bitcoin closed with a real positive line above 61,300.
Upper resistance: focus on around 63500.
Bullish and bearish watershed: Around 66,000 is the key watershed. Although there is short-term upward momentum in the early trading, the overall trend remains bearish.
Four-hour chart
Bollinger Bands: Bollinger Bands are open and the price is in an upward channel.
Short-term support: focus on the 61500-61200 line.
One-hour chart
Previous high pressure: If the previous high pressure of 62000 in the short term is broken, a new top and bottom conversion pressure will be formed.
Recommendations
Robust Strategy
Short on rebound: Place short orders around 63500, target 61200, and set stop loss at 64000.
Aggressive Strategy
Short-term operation: If the price rebounds to 62000 and does not break through, you can consider short-term short selling, with the target at 61500 and the stop loss at 62500.
Summarize
Although Bitcoin has the momentum to rise in the short term, it is still in a bearish trend overall. Investors are advised to arrange short orders at key resistance levels to ensure the robustness and effectiveness of trading strategies. Conservative investors can arrange short orders at high resistance levels, while aggressive investors can focus on short-term rebound opportunities and flexibly adjust their operating strategies.
