● Currency pair: BTC
● Direction: Follow the changes
Disk basis:
● VEGAS: 5M-30M bearish trend, large-scale bullish trend, but there is a need for a pullback.
● K-line pattern: 1H has PinBar bullish protection, 4HK closes PinBar
● Chart pattern: 15M has a bull flag pattern with the upper target around 66800-67200 4H bear flag channel
● Others: Now in the transition from 7.25 low point 63437.4-high point 70063 retracement 0.618, which is also the lower rising trend line of the bear flag channel. If the 4H closes PinBar and the low point (65200) is not broken, there is a rebound demand (oversold rebound). Pull the FIBO side from the high point to see 0.382:67088-0.5:67656-0.618:68224
Intraday focus: The bull flag pattern of the 5M chart is currently suppressed by the Vegas channel. The bull flag may not succeed. If it fails to break up, it will push down to around 65200-63500.
Pay attention to whether a W bottom can be formed around 65200. If the left low point (65200) cannot support it, it will seek support at the 63500 horizontal support level. If it goes to 635-630 first, the retracement point needs to pull FIBO again.
