So the Monday has just ended, and it's a new week with new trends. Let's take a look at the weekly chart of $BTC from last week. Last week's weekly chart closed with a bearish candle, breaking below 82000. From the candlestick chart, it seems to indicate a slight bearish engulfing pattern. The week before last showed an upward trend, but last week's bearish candle completely engulfed the previous week's bullish candle, so from the perspective of the weekly chart, it's not very optimistic. There is still a possibility of continuing to drop, testing the 80000 level, which is the previous low that was broken.
Now let's look at the daily chart. From the daily chart perspective, we can observe that there has been a gradual decrease in volume over the past few days, but the current downward trend line has not yet been broken to the upside. What we need to do now is remain patient and wait for this trend line to break upward. Currently, the consolidation and decline at the daily level has been testing around 0.618 and 0.66, and it seems there is still some support present. Just like the previous increase, which only rose to the vicinity of 0.618 and then consolidated back down, we still need to pay attention to the consolidation period to make some lower points. After breaking below the 0.618 level (around 81000) and then recovering, followed by a gradual approach to the downward trend line (84000), we could welcome a significant breakout.
The above is the trend analysis of the daily and weekly charts for $BTC . Due to space limitations and the need for real-time effects, we will not publish hourly analysis for now. If there are friends who need it, please write in the comments, and if there are enough requests, I will add the hourly analysis along with ETH and some other cryptocurrencies that have potential opportunities.