The decline of $BTC continues

The decline in the early morning can also be seen as the start of a new week, which is 2 hours later than inferred in the previous analysis. Having just entered the cryptocurrency circle, I am still not accustomed to this 24-hour trading time, nor to the rule of closing the daily candlestick from 8 AM to 8 AM the next day. The cyclical logic of time and space will take some time of analysis and reasoning to become smooth.

Currently, we are at the tail end of the daily candlestick, and the bearish candlestick on the daily chart is causing the MACD to continue downward, so the daily line will continue to pull back. The 8-hour line is about to pull back in the new day, and whether the weekly line drops sharply or slowly is still just the beginning.

Today, the new daily candlestick will start with a rebound pattern of bottom divergence A point on the 15 and 30-minute charts, pushing up to the range of 113600-114000, then moving to point B for a downturn around 111000 to create a horizontal fluctuation. Important time nodes are at 16:00 and 22:00; if the 8-hour candlestick forms a dead cross, there will inevitably be another drop below yesterday's low. Currently, the support level for the weekly line is around 102000 points.