Yesterday, I mentioned in the article that BTC was experiencing a short-term pullback, with a target to watch at 107300, and today it dropped to a low of 107400, which is basically in line with expectations.
However, it did not produce an ideal rebound later, so now we can only look at the trend according to the 1h consolidation oscillation.
As for the direction, even if the market is currently sluggish, everyone should adjust their mindset and not be affected by short-term fluctuations. As long as the price does not break below 105000, I personally remain optimistic that BTC can reach a new high again in mid-month.
Market analysis.
First, at the 1h level, I have emphasized multiple times in recent articles about the views on major levels, so excluding the premise of a trend reversal, I personally believe that at the 1h level there are only two possible movements as shown in the chart: 'direct breakthrough' and 'pullback followed by breakthrough'.
If the current pullback has not ended and breaks below 107300, then it will further pull back to the range of 105000-106000. Those who have already bought need to defend and hold patiently, while those who have not entered should be bold in taking positions at that time.
Short-term.
At the 15-minute level, if it does not break through 109600 in the short term, then structurally it is already in a downtrend, and it will test the support around 107300 again at midnight.
As for how it will actually move, there are three possibilities as shown in the chart:
1. Directly break through 109600.
2. Test the support at 107300 again, and subsequently continue to oscillate to build a consolidation range.
3. Break below 107300 and continue to pull back.
Currently at a high level, short-term players can try to short with a few hundred points of defense.#BTC #BTC走势分析 #突破交易策略 