Today, BTC did not achieve the expected rebound, which means that the judgment on the 1-hour trend in yesterday's article was incorrect.
Today is Friday, the last trading day of this week for US stocks. If there is no breakthrough above 86000 during the midnight rebound, then it will likely continue to correct.
Expected to drop to the support level at midnight, followed by a period of sideways consolidation over the weekend, and then a further drop below the minor support on Monday to continue the downward retracement.
Market Analysis
First, at the 4-hour level, I personally tend to think that a correction is needed to trigger a second buy, which should also be the last bottom before a strong rebound that I mentioned earlier. It is still uncertain whether it will drop below 80,000 again, but precautions need to be taken. After the second buy, it should surge straight to 90,000.
Back to the 1-hour level, since yesterday's judgment on the 1-hour was incorrect, it can be said that we are still in a 1-hour correction. The short-term target for the correction is to focus on the area around 83500.
Short-term
As mentioned above, the 1-hour level is still in a correction phase. Just go with the trend in operations; short-term traders should take profits at 83500. Then continue to short at higher levels.
