Dog Brother BTC Market Analysis
The current trend structure has not changed. Since the 10th, I have been emphasizing to trade within the range of 94,000-98,000, following the high and low points of the trend. In the absence of a clear breakout in either direction, you can try to operate around the trend lines.
Bitcoin and Ethereum have been consolidating for half a month since the spike on the 3rd. Looking at today's new weekly candlestick, it is not strong. The probability of continuing to close in the red this week has increased. A conservative estimate for this week's support line is around 91,800. If extreme conditions occur, the range of 87,000-84,000 will signal a new round of upward movement.
In the second scenario, looking at the daily chart, there is momentum building. If 99,300 breaks strongly and stabilizes this week, the upside potential will open up, unleashing a wave of shorts. Currently, the intensity of short liquidations is over 20 times that of longs. If we think from the perspective of market manipulation, continuing downward does not align with trading logic.
Combining the above two perspectives, I believe there may be a daily level downward fakeout this month, followed by a strong rebound.
