$BTC Today's Viewpoint
The weekly K-line shows a rising trend with high-level fluctuations, indicating a possibility of forming a peak.
The daily K-line is in a rising trend with horizontal consolidation, potentially forming a double top or flag pattern adjustment. Currently, it should be treated as consolidation.
The 4-hour chart is in horizontal fluctuations. Last night, it broke the left-side low point. Currently, it is retracing to the left low. The effectiveness of this position needs to be observed, with two possible scenarios: 1. If it continues to drop, there could be a reversal possibility. 2. If it returns above the left low, there is a chance of forming a buy point in the consolidation; attention should be paid to the upward strength in the next cycle.
On the 1-hour chart, the downtrend has not seen a reversal. Currently, any upward movement should be treated as a rebound.
On the 15m and 5m charts, there is upward movement, but the space won't be particularly large. It is not recommended to chase after the rise. The current structure and shape are not complete, so operation is not advised.
Personally, I still hold short positions and reduced my positions last night. If it continues to drop, I will add back the reduced positions. If it goes up, the profit-taking will be limited. Currently, it should consolidate. Under good risk control, wait.
