Don't panic over the sudden drop in Bitcoin! Institutions are still buying, and key levels have been marked!
Just now, a wave of selling scared a lot of people, but understanding price action is key to seeing the market clearly:
Core logic: After every quick drop, there is a swift recovery. What does this indicate? There is significant capital supporting the market below! Therefore, there is no panic sell-off, and the sentiment remains under control.
My short-term trading plan:
Bullish defense line: 4192 dollars! This is the dividing line between bulls and bears in the short term; holding this level will continue the rebound.
Rebound targets: First target 4273, second target 4313.
Breakout warning: If the 4-hour line closes below 4192, the short-term trend will turn bearish, and we will look towards 4071 or even 3950.
Important reminder:
Don't be misled by the daily line's sharp drop; the weekly uptrend remains intact! The foundation of the bull market hasn't changed.
So the strategy is clear: short-term traders should focus on key levels, and spot players should wait for deep dips as buying opportunities!
