Yesterday and today, Bitcoin failed to break through 30,500, so it fell below 30,000 again today, which is a continuation of the 1-hour level decline. It is expected that there will be another 1-hour level rebound, so we continue to wait for the rebound before shorting.
This week, the focus will be on whether Bitcoin will fall directly below 29,500. If it does, it is likely to quickly approach 28,000.
BTC short-term:
1 hour level:
The first 1-hour decline is still continuing. In the short term, we will continue to see whether the support of 29500~29800 can be maintained. If it is maintained, we can continue to see a 1-hour rebound to around 30700 or 31000, and then pay attention to whether the third 1-hour decline will accelerate. If 29500 cannot be maintained, we must pay attention to the risks.
15-minute level:
At the 15-minute level, a 15-minute consolidation center appeared the day before yesterday, yesterday and today. It has now fallen below the center again, and there is a certain probability that the current 1-hour level decline will end. If it does not fall below 29,500 in the short term, a 1-hour level rebound can be seen. If the rebound comes out, it depends on whether the third 1-hour level decline will accelerate.
Trend Direction:
Weekly level: Downward. A weekly decline is expected at the end of July.
Daily level: downward, it is not certain whether 31800 is the peak, but the market will gradually return to the downward stage.
4-hour level: Downward, continue to pay attention to whether it falls below 29500 this week. If it falls below, be careful of risks.
1-hour level: Upward, we are still looking at a 1-hour level rebound, unless it falls directly below 29,500.
15-minute level: Upward, if it stands above 30280 again, it may start a 1-hour level rebound.
