Understanding the BTC Trend with Three Charts

(P1) The daily chart clearly shows that since dropping to 74,500 on April 7, it rebounded 30% to nearly 98,000. However, there are a large number of order blocks nearby. Between December and mid-January, a double top pattern was established. If it wants to break through this large rectangle in the short term, BTC may collect liquidity in a head and shoulders bottom formation to break through this large cycle's rectangular oscillation.

(P2) If it falls below 91,000 on the four-hour chart, BTC may need to establish a right shoulder in the range of 84,000 to 78,000. Currently, if considering a long position, the stop-loss is around 3.4%. From the four-hour perspective, it is only recommended to focus on the price range of 84,000 to 78,000; no other considerations are necessary.

(P3) The one-hour chart shows a more obvious order block that failed to break through after three validations. In the short term, if it can break through 95,200, there may be a bullish outlook. If it falls below 91,500, one should consider going short.