$BTC The recent trends can be described as perfect, first with a high peak of 3000 points, followed by a drop of several thousand points. Yesterday, both the day and night sessions achieved 1800 points, reaching 2000 points. As early as Monday, after the peak volume moved down, a prediction was made that it would first move in a range fluctuation. The range fluctuation depends on the volatility of the last hour; if the volatility is large enough, it will move around the high and low points of the last hour. If not, it will move around the high and low points of four hours. Looking at the fluctuation range, it is just the volatility of the last hour that is fluctuating again. The bottom was broken first at noon yesterday, but quickly recovered, which means it will break the high. The points of breaking the bottom and breaking the high are consistent, so it does not have continuity, but rather expands the range. Therefore, in the early morning, it was mentioned in the direct broadcast that a high position can be reached. The defense only provided 150 points, but it did not break. So understanding support and resistance is very important.
From the current overall trend structure, the fluctuation after a volume increase is a correction, waiting for indicators to catch up with the trend structure. Both sides of the range have broken, so there are still several fluctuations, and the main rhythm must still be upward. The time of fluctuation has reached three days, so the range fluctuation is nearing its end because generally, a correction will lead to a new small trend after three days. Similarly, the four-hour continuous narrowing has caught up with the trend structure, currently near the lower Bollinger Band. As long as it breaks down a little more, the upward movement will continue to weaken, so as it approaches the end of the fluctuation, it will be more appropriate to follow the trend upward.
111900 to 112300 nearby upward, looking around 110200. #BTC
