$BTC Evening Viewpoint:
Dear students, please note that Bitcoin is about to release floodwater. Since Bitcoin fell below 106,000 last night, it has not been able to recover back above 106,000. Therefore, the only option for Bitcoin is to open the floodgates and let it flow.
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Speaking through the chart: In the hourly level of Bitcoin, as long as you are not 800 degrees nearsighted, you can see that the highs are continuously lowering, the lows are also lowering, and it has repeatedly created lower lows. Do you still think this is a correction? If you still think so, then you're hopeless.
Bitcoin's volume breakout at 105,331 allows for a right-side chase for more on the rebound, whereas the volume drop below 105,033 cannot recover, so watch for a right-side short. Pay attention to the changes in volume and set a stop loss.
In the hourly level of Bitcoin, if it is to form a double-bottom pattern, it cannot drop below the two lows indicated by the yellow arrows again. If these two lows indicated by the yellow arrows are broken again, the hourly double-bottom pattern will fail and be useless.
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If Bitcoin stabilizes above 105,873, it can look upward to 106,400-107,140, but this rhythm seems a bit exhausting.
In the 4-hour level, if it drops below 104,525, directly look for the target position below at 103,304-102,403; let's see this first.
Continuing to look at the chart: Bitcoin's rise from 74,000 to now seems to have not had a deep correction yet! Looking at the daily Fibonacci level, retracing to the 23.6 and 38.2 positions is also not a problem. If Bitcoin goes for a deep correction and breaks below 50, it will be dangerous; perhaps this wave of upward movement can only come to a halt for now. Pay attention to the risk and disperse the meeting.