$BTC Evening Viewpoint:
Dear students, the long-awaited pullback has arrived, it has really come down from the highest point of 123300 to the lowest point of 116227, a pullback of 7000 dollars. I wonder if everyone is satisfied with this pullback. The bullish liquidity around 116000 below the big coin has already accumulated. Will it make a false breakout by pushing down to clear the bullish liquidity below, and then start to rise again? Because there is a large amount of short positions gathered around 121000, both long and short liquidity will be cleared before choosing a direction, I must say the bears really have the money to be willful.
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Talking through the chart: The Fibonacci 1:1 pullback target position for the big coin at the hourly level has already been hit. If a deep pullback to the 1.618 position is to occur, it is necessary to make a move to the corresponding price of 113906, which is also the gap position below the big coin.
Never have the thought of being bullish when it rises and bearish when it falls; if key positions are not broken, you cannot continue to be bearish.
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The big coin broke through 117267 with volume, chase the long position on the right side to eat the rebound. If it breaks down through 116333 with volume and cannot recover, chase the short position on the right side, and set a good stop loss.
The big coin, after breaking through and standing firm at 117310 at the hourly level, looks up to 118195-118888-119579. If it can break through 118888 again, you will see the big coin at 120,000 again.
At the 4-hour level, breaking down through 116360 looks down to 115228-113797. If it breaks through 115228, the big coin will undergo a 4-hour pullback.
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Continuing to look at the chart: The position circled in yellow above the big coin at the hourly level will rebound upwards as long as no lower lows occur; this is the short-term bottom consolidation at the hourly level. If the rebound does not create higher highs, it will test the position pointed to by the white arrow again.
The four volume bars circled in yellow below correspond to the four bearish candles above, and it can be clearly seen that it is currently in a state of decreasing volume decline. Furthermore, these four bearish candles all have different lengths of lower shadows, indicating that there is buying interest at this position. Therefore, before a lower low occurs, you cannot short at the current position; you might short at the lowest point. Pay attention to observing the changes in volume, meeting adjourned.