$BTC
Sunday, Saturday, upward to sideways volatility; 4H downtrend, rebound during the 1H downtrend,
rebound in the 30m downtrend, sideways adjustment in the 15m downtrend, upward to sideways in the 5m, each cycle is very chaotic and different, so focus on the 1H direction for intraday trading, then look for entry points in smaller cycles.
The current 1H is still in a downtrend, but this downtrend serves as a component for the 4H and daily and weekly sideways internal structure. The lows of the 4H and above sideways volatility will provide support, and one must consider the potential for price reversals or adjustments.
The key price for the ongoing 1H downtrend is 107500. If this price is broken, it will enter a 1H sideways volatility, or end the downtrend; to turn bullish, it must break 109200.
Currently, while handling rebounds, the 5m is sideways, with a sideways range of 106100-107500. Only a breakout upwards or downwards will produce an effective visible direction. For instance, if the 5m breaks downwards, it resonates with the 1H; if it breaks upwards, it ends the bearish outlook and turns into sideways volatility upwards, excluding false breakouts.
In summary, the current momentum remains weak, with a primary bearish outlook. One must always pay attention to the 5m trend direction, as it will guide intraday trading. Be cautious to distinguish between real and fake breakouts, or the consequences could be severe.
