Bitcoin has returned to $58,000. The upper 58,000-60,000 is a pressure level formed by a dense trading area in the four-hour short-term. Judging from the current trend, this position will have a small correction in the short term. The reasons are as follows:
1. There was no effective breakthrough in the pressure range four times, which shows that the pressure above is very large.
2. The bulls did not increase their volume during the breakthroughs.
3. The overall trend of the four-hour period is an upward trend, but recently
4. The short-term correction is also shrinking.
5. There were four attempts to break through, but the amplitude of the previous high is getting smaller and smaller, which shows that the bulls are beginning to lose strength. Overall, the strength of the bulls is weakening, and the strength of the bears has not increased, but the upper side is a pressure level. There will be a small correction in the short term, but the amplitude of the correction will not be too large. After this correction, it will not be far from returning to more than $60,000.
