$BTC Evening Insights:
Looking at the chart: The big coin on the hourly level is forming an arc bottom with a cup and handle pattern. This cup and handle pattern, when isolated, is a bearish flag. If the rebound cannot break through the cup and handle pattern, it will test the support at 112095 again. If 112095 cannot hold, it will continue to test the support at 111181. I hope that from now until the announcement of the interest rate cut, it can maintain a fluctuating movement within the cup and handle pattern; if it falls out into a big pit before the announcement, it will be difficult to pull back up.
The only way to reverse the situation now is to break through the two pins indicated by the upper white arrow, corresponding to a price near 116086. Only by breaking through here can the upward trend continue. To stop the downward slide, it needs to break through 113250 and run above 113250 to halt the downward slide.
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On the left side, go long and wait for the big coin to pierce down and falsely break 112281 before you take your long position back. If it goes down directly and cannot recover, do not go long; keep the position light on the left side.
On the right side, wait for the breakthrough at 113530 to go long on the right side; the certainty will be higher. Pay attention to changes in volume and set a stop loss.
For the big coin on the hourly level, break and stabilize above 113580 to look upward at 114363-115589; only by stabilizing above 113580 can we look upward.
On the 4-hour level, if it breaks below 112197, look downward at 111166-109535. If 111166 breaks and cannot recover, it will go down.
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Continuing to look at the chart: The big coin's 4-hour level M head has already formed. Yesterday during the live broadcast, a student told me that the M head appeared at the 4-hour level, but I hadn’t noticed it; I only saw it after it moved out, haha, my eyes were slow.
To stop the 4-hour level M head from continuing to develop, there must be a 4-hour level bullish candlestick with a closing price above 113503 to prevent the 4-hour level M head from continuing to spread.
113503 is the neck line of the 4-hour level M head. Breaking above it will cause the 4-hour level M head to collapse on its own. Once the 4-hour level M head develops, it’s hard to say where it can drop to. Meeting adjourned.
