Yesterday, Bitcoin experienced rapid fluctuations in the short term. It first fell to the vicinity of the previous low, and then immediately rebounded rapidly. However, when it touched the short-term previous high point that we mainly focused on yesterday, it failed to break through and fell rapidly again.

Then we can see that the price has clearly created a lower low. At present, the price of Bitcoin has returned to the upper side of the previous low point. After breaking the new low point, it has not started a large downward trend.

So how should we view the current situation?

I think that if a lower low point is created in the short term, it should continue to be bearish. Continuing to fall means that it will continue to fall according to the trend of the top divergence at the daily level. Before breaking the key high point ahead, I still don’t think that the current price will follow the four-hour bottom divergence trend.

In other words, the price needs to rise back above 67,300 to reverse the current downward trend and start a new upward trend!