$BTC 24h trend analysis
Current price reference: 69,356
Macroeconomic aspect: There is currently no unilateral driving force in the macro aspect; fluctuations are likely to amplify as the event window approaches; my conclusion is based on whether the key price level holds or breaks.
Multiple time frame analysis:
4H: Bullish (structure determines the major trend)
1H: Consolidating (determines today's main range)
15m: Bearish (determines whether to follow the trend/retrace)
5m: Consolidating (determines entry triggers and false breakouts)
Today I am only focusing on two price levels:
Key resistance R above: 70,173 (if it holds and retests without breaking, bullish scenario confirmed)
Key support S below: 68,385 (if it breaks and retests without holding, bearish scenario confirmed)
24h two scenarios (based on "confirmation"):
Bullish scenario:
If it effectively holds above R and confirms on retest → target initially looks at around 70,417, if stronger then looks at around 71,430, watch for pullbacks during the process.
Bearish scenario:
If it effectively breaks below S and does not hold on retest → target initially looks at around 68,176, if weakness continues then looks at around 67,128, acceleration may occur easily.
Invalid conditions: If the price fluctuates back and forth between R and S, prioritize treating it as a range consolidation (do not chase highs and lows in the middle of the range).
#BTC #Bitcoin #MarketAnalysis
Current price reference: 69,356
Macroeconomic aspect: There is currently no unilateral driving force in the macro aspect; fluctuations are likely to amplify as the event window approaches; my conclusion is based on whether the key price level holds or breaks.
Multiple time frame analysis:
4H: Bullish (structure determines the major trend)
1H: Consolidating (determines today's main range)
15m: Bearish (determines whether to follow the trend/retrace)
5m: Consolidating (determines entry triggers and false breakouts)
Today I am only focusing on two price levels:
Key resistance R above: 70,173 (if it holds and retests without breaking, bullish scenario confirmed)
Key support S below: 68,385 (if it breaks and retests without holding, bearish scenario confirmed)
24h two scenarios (based on "confirmation"):
Bullish scenario:
If it effectively holds above R and confirms on retest → target initially looks at around 70,417, if stronger then looks at around 71,430, watch for pullbacks during the process.
Bearish scenario:
If it effectively breaks below S and does not hold on retest → target initially looks at around 68,176, if weakness continues then looks at around 67,128, acceleration may occur easily.
Invalid conditions: If the price fluctuates back and forth between R and S, prioritize treating it as a range consolidation (do not chase highs and lows in the middle of the range).
#BTC #Bitcoin #MarketAnalysis