The core watershed is the range of 118265-118365 (two points are close and can be merged as a key boundary):
- Holding above (and maintaining for 1-2 hours): Considered a short-term rebound initiation signal, market bias towards bullish.
- If it can't hold above or breaks down: Considered a sign of weak rebound, market bias towards bearish, need to pay attention to lower support.
Watershed upper and lower support/resistance point sorting
1. Above the watershed (after rebound initiation)
- Core logic: Relying on watershed support, aiming to challenge resistance levels.
- Resistance levels (from near to far):
- 119135 (first short-term resistance)
- 120485 (second medium-term resistance)
- 122150 (third key resistance)
2. Below the watershed (when rebound is weak)
- Core logic: The watershed acts as resistance, relying on lower support for defense.
- Support levels (from near to far):
- 116900 (previous low support, key defense level)
- 115850 (first support after breaking previous low)
- 114500 (second tier support)
- 113645 (third depth support)
Summary
- Key boundary: The range of 118265-118365 is the 'line of life and death' for short-term market direction, holding above will initiate a rebound, failing to hold will continue the weakness.
- Operational logic:
- Bullish: Need to wait for a stable hold above the watershed and confirm continuity, then look for a breakthrough of resistance levels.
- Bearish: If the watershed pressure is effective, focus on the defense of the previous low of 116900, breaking down may look for deeper support levels.
- Risk warning: Short-term point analysis should consider real-time trading volume and market volatility speed, avoid relying solely on point trading, and plan stop-loss and take-profit properly.$BTC #BTC走势分析 
