#CryptoCharts101
Technical Analysis and Bitcoin (BTC) Trading Strategy
Daily Level
Price Structure: Last week it fell to 100,000 points and did not break the support level. It then returned to the horizontal adjustment range, but the descending trend line above still restrains it, maintaining the overall high-level downtrend structure.
K Line Pattern: The closing of the last two consecutive days from the star crossover shows that the dominance of selling and buying positions has increased, but without a clear direction.
Momentum Indicator: The Relative Strength Index continues to contract, indicating weak momentum in the short term, and attention should be paid to breakout signals.
Four-Hour Level
Main Resistance: 106,700 (top of the horizontal channel + pressure connecting the descending trend line), a breakout is expected to test the 110,000 level.
Main Support: 103,500 (bottom of the range), 101,000 (strong support). If it declines, it may form a head and shoulders pattern, then head towards 97,600 (previous level support).
Short-Term Trading Strategy
Short Buy Opportunity
Entry Area: 106,000-106,700
Stop Loss: 108,000 (sell order is canceled after breaking the trend line)
Target: 103,500 → 101,000
Long Buy Order Monitoring Point
If the price stabilizes above 106,700, you can wait for confirmation of the correction before placing buy orders, with a target of 110,000.
If the price stabilizes at 101,000-103,500, you can consider a short-term rebound trade.
