BTC Analysis

The 4-hour chart can be treated as a rising wedge, and it is currently still in a sideways range! The 61.8% Fibonacci level is at the yellow horizontal line, with the price around 97000! If it continues to rebound upwards, the price we can see is likely to be at that position!

On a larger scale, there is a need for corrective indicators on the 2nd and 3rd days! Therefore, a major crash is not expected for now; there will still be upward and downward corrections of the indicators.

On the weekly chart, we can observe that the MACD yellow and white lines have crossed below the zero axis in this tug-of-war, which means the larger cycle is about to enter a bearish rhythm! You can refer to that position in 2021, just as a reference; history will repeat itself, but it won't simply repeat 🔁

In summary, this position will create a central consolidation, a structure of ups and downs or a structure that does not exceed the previous high, forming a continuation of the decline, and it will continue to drop 📉

Trading strategy suggestions: If going short, patiently wait for short signals, either continue to rebound and show exhaustion to short, or break below the sideways area with a lower left, continue to follow short! There is more than $20,000 space downwards.

Going long: Be cautious when going long and ensure proper risk control; do not be careless! Even if it rebounds to around $100,000 here, the main strategy should still be to go short!

Regardless of bullish or bearish, this position requires time for correction. Such sideways action is more likely to lose money because neither shorting nor going long is correct, and yet both can be! This is very contradictory; the market continuously squeezes in the sideways range until it finally breaks the balance, marking the beginning of a trend! #比特币VS代币化黄金