$BTC The current adjustment is aimed at the rise from 74508 to 110980:
1. Adjustment structure analysis:
110980 to 100372 is the first part of the adjustment (the black line in the figure); 100372 to 110530 is the second part of the adjustment (the green line in the figure), and from 110530 to now is the third part of the adjustment (the red line in the figure is hypothetical).
2. Support and resistance levels
1. The daily MA60 (which almost overlaps with the overall Fibonacci 0.236) is at today's price of 103074. Observe the daily K chart; if multiple daily K candles close above MA60, it indicates strong bullish momentum; conversely, it indicates strong bearish momentum;
2. Around 97500 is the Fibonacci 0.382 of the overall rise; prices above this level indicate a strong bullish trend, while a break below suggests a shift in control between bulls and bears;
3. Around 93000 is the last line of defense for the daily moving average bullish, also the position of Fibonacci 0.5. A break below this level will lead to a bearish trend.
3. I believe now is not a good time to bottom fish:
1. Bearish indicators are performing well, with no signs of divergence;
2. If the red line and black and green lines are at the same level, it should be in the early stage of activation, with no acceleration seen. #加密市场回调 #以色列伊朗冲突
1. Adjustment structure analysis:
110980 to 100372 is the first part of the adjustment (the black line in the figure); 100372 to 110530 is the second part of the adjustment (the green line in the figure), and from 110530 to now is the third part of the adjustment (the red line in the figure is hypothetical).
2. Support and resistance levels
1. The daily MA60 (which almost overlaps with the overall Fibonacci 0.236) is at today's price of 103074. Observe the daily K chart; if multiple daily K candles close above MA60, it indicates strong bullish momentum; conversely, it indicates strong bearish momentum;
2. Around 97500 is the Fibonacci 0.382 of the overall rise; prices above this level indicate a strong bullish trend, while a break below suggests a shift in control between bulls and bears;
3. Around 93000 is the last line of defense for the daily moving average bullish, also the position of Fibonacci 0.5. A break below this level will lead to a bearish trend.
3. I believe now is not a good time to bottom fish:
1. Bearish indicators are performing well, with no signs of divergence;
2. If the red line and black and green lines are at the same level, it should be in the early stage of activation, with no acceleration seen. #加密市场回调 #以色列伊朗冲突
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