Bitcoin (BTC): According to yesterday’s analysis strategy, Bitcoin accurately touched 102,500 and then retreated. This retracement level is the Fibonacci 0.618 pressure level. Subsequently, a series of harmonic patterns can be formed in combination with this pressure level, which needs attention today!
Daily K-line trend analysis: BTC closed yesterday with a super long lower shadow, and closed with a bullish engulfing bottom model, with the closing price greater than the bullish bat neckline. The intraday upward momentum is beginning to emerge, and long positions at the support level can be more aggressive; short positions at the pressure level need to be more conservative.
Pressure level 1: 105950 (bearish Gartley pattern + intensive trading pressure area)
Pressure level 2: 107800 (bearish bat pattern + intensive trading pressure area) Since Bitcoin did not accurately touch the 102800 0.618 retracement level, the bearish bat is still effective.
Support Level 1: 95400 (Neckline Support + Major Wave 0.618 + Minor Wave Bullish Bat)
Support Level 2: 92450 (Wave Theory Bottom Formation Principle + Major Wave Bullish Bat)
Left Side Bottom Buying Point: 86700 (48000—109980 Wave 0.382 Retracement Level + Daily K Vegas Channel)
🚀 For more detailed point analysis, please watch today's market analysis video, which contains detailed explanations! 🚀 Follow along with Aleng to study candlesticks, and we'll meet at the peak together! 🚀 Click for daily updates to avoid getting lost!