12-22 Bitcoin Perspective: Reference 4H
From the daily level of Bitcoin, the current price has approached the downtrend line, and this market has been fluctuating for about a month now.
Switching to the four-hour view, the current price is about a thousand dollars away from the POC position, and this POC position also corresponds to the 906 resistance level, which is also the Fibonacci retracement 0.618 level. It can be said that the POC, resistance level, downtrend line, and 0.618 all coincide with multiple pressures.
Therefore, attention should be paid to whether this position will be broken through or continue to face resistance.
For long positions, be cautious to see if there is a stabilization above the previous high at 906 after the breakout before going long, with a target towards the 940 resistance.
For short positions, pay attention to the resistance at these levels, and even if there is a false breakout, if an engulfing candlestick appears, one can short without hesitation $BTC
