$BTC Evening Viewpoint:
Looking at the chart: The bearish flag of Bitcoin has been broken, the upper red box marks the important resistance level for Bitcoin that cannot be surpassed to continue rising.
The price indicated by the yellow arrow is around 90800, which absolutely cannot be broken; once it breaks, it will test the lower 90000 integer level. If the rebound cannot break through the high point and if it falls below the previous low, how are we supposed to play this?
The large bearish candle indicated by the yellow arrow on the left, if it falls back inside this large bearish candle, will lead to accelerated downward movement because this large bearish candle belongs to a vacuum area with not much liquidity accumulated. The drop will be fast and the rise will also be quick. If it falls back into the large bearish candle, just wait at the position indicated by the right red arrow! The high hanging restoration is back. As long as it does not break below the lowest point of the early morning spike, the decline will not expand. If the lowest point of the early morning spike breaks, then the scenario I mentioned will come true. Hopefully, we can stop falling around 90800 and form a double bottom before moving up.
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Bitcoin should pursue more at 91441 with volume breaking right side, and pursue short at 91342 if it breaks down with volume unable to recover, set good stop loss.
Bitcoin at the hourly level breaks and stabilizes at 91753 looking upwards to 92613-93587; if it cannot rise above 91753, it will be useless.
At the 4-hour level, breaking 90856 looks down to 90098-89224. If it breaks 90856 and cannot recover, it’s over.
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Continuing to look at the chart: According to the EMA moving average at the 4-hour level, the current support for Bitcoin is around the EMA 50-day moving average at 90730, which resonates with the previous low point of the early morning spike. I hope it won’t break below the EMA 50-day moving average again; it took a while to stabilize above it, and if it breaks, who knows when it will come back up. Looking at the white arrow, these few K-lines at the 4-hour level have consecutively closed 2 shooting stars and one doji. This candlestick is really something, and then it starts to fall. Do you think this decline is coincidental? In fact, the signal has long been given to you; it’s just that I’m bullish and didn’t short, that’s all, meeting adjourned.
