01 Yesterday Review

Yesterday, Bitcoin closed with a small bearish candle, and the body of the bearish candle has not yet fallen below half of the body of the bullish candle No. 1, indicating that the bulls and bears are still in a stalemate at a high level. However, today's trend will become very critical:

If today continues to decline, and the body of the bearish candle overlaps more than half of the body of the bullish candle No. 1, it will form a clear short-term top pattern, and the price is likely to weaken further.

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02 Today's Analysis

From the momentum perspective, this round of rebound is driven by the bullish momentum at the 4-hour level, and the current price has pulled back to around the 2-hour EMA52 to form a weak rebound. If the 2-hour support is lost, the market will test the 8-hour EMA52 line, which is around 92400, corresponding to a drop of about 3%, overall manageable, but further weakening needs to be monitored.

It is particularly important to note that altcoins are more sensitive to BTC's pullback, especially those that have risen significantly recently. If Bitcoin experiences a rapid decline, altcoins may see a more significant drop.

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03 Key Intervals

Short-term support levels: 92400 / 90600

Short-term resistance levels: 96100 / 97800 / 99700

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04 Operation Suggestions

Bitcoin: Short-term suggestion not to chase high prices, wait for confirmation of support on the pullback before making low buys.

Altcoins: Focus on controlling positions, especially for high-gain coins, to guard against rapid pullback risks.

Trend Observation: If today continues to decline with a bearish candle and engulfs more than half of the previous bullish candle's body, it can confirm the establishment of a top pattern.