$BTC Evening Insights:
Talking through the charts: After the big coin broke below the price channel, the lower boundary of the price channel is the current resistance for the big coin, which corresponds to a price near 90716. It will only stop falling if it re-enters the price channel and breaks through the resistance level of 91413 above. To reverse, it must break through the market at 92727 for a chance to turn around.
The market has inertia; it's easy to fall but hard to directly reverse by two levels, unless there is significant positive news! Otherwise, don't think about how to pull back after a drop; it's basically impossible.
The lower level of 89362 is a temporary small support for the big coin. Why is it a temporary small support? Because it could disappear in minutes. If 89362 is broken, then look at the position indicated by the right-side yellow arrow.
If it doesn't break above and doesn't drop below, then we will oscillate in the range of 89362-90716! Consolidate until the US stock market opens to choose a direction. The daytime market this week has been as if someone injected it with anesthetics, completely motionless.
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The big coin breaks through 90403 with volume—chase more on the right side to catch the rebound. A volume drop below 90127 cannot be reclaimed, so chase short positions on the right side. Be sure to set stop losses.
On the hourly level, after breaking and stabilizing above 90839, look upwards at 91454-92727. If it can't go above 90839, it's useless.
On the four-hour level, after breaking 89407, look down at 87975-86339. If 89407 is broken, it cannot be reclaimed immediately; the pullback will continue.
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Continue to look at the charts: On the daily level, the big coin is good because the triangle has not been broken, but inside the daily triangle, an 'M' head has appeared. The neckline of this 'M' head is 89336, which is also near the lower boundary of the triangle. This position must not be broken; once it is broken, the 'M' head on the daily level will be established, and what awaits you and me will be an abyss. Moreover, all the efforts made to rise will be handed over, and the gains over these days will be forfeited. Don't think that because it has fallen a lot, you should go long; the decline may just be starting. Currently, going long can only catch the rebound. Pay attention to changes in volume. Meeting adjourned.
