Bitcoin fell below 59,000 this morning, confirming an hourly level correction. The current minimum is 58,012, but the current hourly level decline has not yet been completed. Overall, if it does not break 57,000, there is still a high probability of another hourly level correction, especially since Ethereum is already in a four-hour level correction. If there is a short-term rebound, you can look for opportunities to short.

Bitcoin's current hourly level correction only needs to observe around 57,000. If it falls below, it can basically confirm a four-hour level correction, and then there will be a second wave of hourly level rebounds and a third wave of hourly level declines. The overall correction target focuses on around 54,500, as shown by the red arrow in the figure above.

If the hourly correction does not fall below 57,000, there is a certain probability of going to around 60,500 again, as shown by the blue arrow in the figure above.

At present, the probability of a direct four-hour level correction is increasing, so everyone should make plans for the short term.

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