The demand zone on the BTC 4-hour level has been breached, and a new secondary supply zone has formed near the middle track. The spot premium is declining again, indicating that a new low-level consolidation range is about to form.
Currently, the overall channel has not significantly moved downward, and there is still a possibility for a rebound in the short term. If the channel significantly moves down in two days and the price still fails to break above the middle track like last Friday, it will trigger a downward consolidation trend;
According to common logic, after breaking the support at 111.6k, it should turn bearish. We need to pay attention to whether the US stock market can drive the trend tonight.
I believe opening a long position in the 111k-110k range is very cost-effective, with targets set at 113.6k, 114.5k, and 117.2k.
Currently, the overall channel has not significantly moved downward, and there is still a possibility for a rebound in the short term. If the channel significantly moves down in two days and the price still fails to break above the middle track like last Friday, it will trigger a downward consolidation trend;
According to common logic, after breaking the support at 111.6k, it should turn bearish. We need to pay attention to whether the US stock market can drive the trend tonight.
I believe opening a long position in the 111k-110k range is very cost-effective, with targets set at 113.6k, 114.5k, and 117.2k.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
109,772.71
-2.73%