The 4.10 Bitcoin surge did not occur! The daily line closed with a big negative line! Could it be?
In yesterday's article, I mentioned that the price did not rise much after breaking through the previous high point, and the callback immediately fell below the support and resistance exchange point. This trend is not good, but I still look at the market based on the big level and continue to be bullish. However, the price was in the process of callback at that time, and there was no sign of stabilization, so I suggest waiting for the price to continue to callback to the key point. If the price callback is too deep, then it is an opportunity to get on the train at a low level.
Then we look back at the current market. The key point of the price callback is the previous market band low or high point. It is obvious that the closest key point to the bottom is around 68900. Now we can see that the price has temporarily stabilized near this place, but it can also be said that the price of this key support point has fallen through.
However, it can be seen that the price at the one-hour level is beginning to show a trend of multiple positive lines, which seems to have stabilized. Is this position suitable for getting on the train?
If we want to get on the train, we still have to observe the situation of the daily line. The daily line level closed yesterday with a big Yinxian line and broke the low point of the previous big Yangxian daily line, and the current position is a key upper resistance. Such a closing situation represents a reversal trend, so the current situation of this daily line is not conducive to bullishness.
The price is likely to continue to pull back. The upper resistance position I drew in the above picture is around 71500, but although the highest point of the daily line the day before yesterday was close to 73000, the final closing line was closed at around 71500, and it did not break through when closing. From the daily level, it is still the same as the previous market, and it is impossible to break through the resistance here. So the current key daily level resistance is actually around 71500 above.
The reason for analyzing this key upper resistance is that friends who are more stable can continue to wait for the price to break through this position again before getting on the train. If this happens, the signal of rising market will be more certain.
Of course, as shown in the figure, after the price is blocked by the previous resistance above, it is possible that it will continue to pull back to the previous trend line below. This is possible. Of course, this trend line may also be broken. Once it is broken, the upward trend we are optimistic about may not appear so quickly.
