From the 4-hour chart, BTC's current position is basically the same as yesterday's analysis period, and the market basically repeats the trend of the previous trading day.
As stated in the analysis of the settlement yesterday, after a rapid callback of BTC in the past few trading days, at present, it has returned to the vicinity of the key support area formed by the two major golden section support of the callback of the previous wave of rebounds 0.382 and 0.5.
The significance of this interval for the market is that it can be used to judge whether the past wave of rapid rebound can be continued after the first round of stepping back to confirm the exit.
Especially in the case where the key technical reference of the 4-hour MA50 also keeps running within this interval. The determination of market stabilization during the temptation process near this interval is important for the next direction choice.
However, if the market unexpectedly falls quickly below the $7,000 in the short term, many short-term thinking needs to be temporarily adjusted. In this case, the downturn may directly enter the second-degree bottom looking into the $6,400-$6,500 area.
As stated in the analysis of the settlement yesterday, after a rapid callback of BTC in the past few trading days, at present, it has returned to the vicinity of the key support area formed by the two major golden section support of the callback of the previous wave of rebounds 0.382 and 0.5.
The significance of this interval for the market is that it can be used to judge whether the past wave of rapid rebound can be continued after the first round of stepping back to confirm the exit.
Especially in the case where the key technical reference of the 4-hour MA50 also keeps running within this interval. The determination of market stabilization during the temptation process near this interval is important for the next direction choice.
However, if the market unexpectedly falls quickly below the $7,000 in the short term, many short-term thinking needs to be temporarily adjusted. In this case, the downturn may directly enter the second-degree bottom looking into the $6,400-$6,500 area.