Yesterday, Tang Ge pointed out the low long opportunity between 80390~79151 in the group. The lowest on the market was around 80,000, successfully capturing the low point and rebounding.
Overall structure indicates that after the price breaks below the lower trend line of the contracting triangle, there is an expectation for a second rebound. However, considering the clear short-term bearish structure across all levels, this rebound is unlikely to last. One should take proactive actions and wait for a small-scale stabilization or a further dip above the 4H level to enter.
From the daily chart perspective, the price remains above the MA250. A small range refresh of yesterday's low allows for quick in-and-out trades to capture rebounds, while also reserving orders near last March's high.
From the 4H to 12H perspective, yesterday's low is in the oversold range, and after the daytime rebound, it has nearly recovered. Moving upward, there is a short-term selling pressure area. Do not chase the first rise; instead, actively sell short-term positions currently held after a potential peak.
From the 1H and below perspective, an afternoon candle showed a relatively large bullish movement. In the context of the overall structure, there is a possibility of inducing longs, which can delay subsequent declines, but it is not enough to change the short-term bearish structure. Rebounds in this area and further above should primarily be viewed with a sell-high strategy.
In summary, the short-term market is unlikely to continue rising. Before a bullish configuration is completed at smaller levels, it is mainly advisable to reserve downward orders. Reference points are as follows:
Short-term support at 79980~79110 (look long while trading short, quick in and out), second support at 74975~73010 (buy the dip for a rebound, with a 1:2 order, valid for 10 days), short-term resistance at 83922~84416 (do not pursue breakout), #BTC
