The direction may be misjudged at times, but what’s truly scary is the reluctance to admit it and to make changes. The truly capable individuals can identify problems at the first moment, adjust in time, and recover what was lost. Bitcoin has seen an initial pullback of 643 points, followed by a decisive turn, capturing 1157 points, not only recovering losses but also successfully achieving 20560 in profits. The cryptocurrency market has always been about the ability to correct mistakes rather than avoiding them, as well as the speed of execution. Stay calm, follow the right direction, and the results will naturally return.
From the current market structure, Bitcoin has completed an emotional release after a rapid drop in the previous round. On the four-hour level, the price is still in the repair phase of a downward structure, and the rebound is more of a technical correction for the prior sharp decline. The upper middle track and the dense area of previous highs constitute a clear resistance, and the trend has not yet formed an effective reversal; the one-hour level shows a pullback after being blocked at a high, with no further extension of highs, and momentum is slowing down, indicating that bulls are focusing on defense rather than continuing to attack. Looking at the one-hour level shows a strong rebound, where the price briefly surged and stood above the short-cycle Bollinger upper track, but after reaching the pressure zone of previous highs, it could not continue, instead entering a phase of high-level consolidation. Overall, it currently belongs to the end of a rebound after a decline, treating it with a volatile mindset in the short term is more prudent; it is not advisable to chase after the rise before effectively breaking through key resistance, and it is better to patiently wait for clear directional signals given by support or resistance levels.
Bitcoin 88800–89300 short, target around 86500;
Ethereum 2940-2970 short, target around 2800. #BTC #ETH $BTC
