Bitcoin is now back in the resistance zone after yesterday’s slight decline.
Yesterday's decline did not test the previous low downward, but showed an hourly band low increase, which can be understood as a temporary strengthening of the bulls.
However, the neckline resistance area has not been broken through, so it is not the best time to see a reversal and participate in the bulls. We still believe that the long position can only be considered after the resistance breaks and then comes back again, and after the support and resistance are exchanged and it is clear that it has stabilized.
How should we understand the rising lows at the hourly level?
As long as the neckline is not broken, even if the low point is raised, it will only expand the range of fluctuations in the retracement stage.
From the previous narrow uptrend channel to a wide uptrend channel.
