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Let’s take a look at the current trend of BTC today, as I drew the icon below (pure technical analysis)![]() ![]() Review: The current price of BTC has reached 112450. Let me first look at the big level. This is a 4-hour K-line chart. When BTC reached the main position below a few days ago, it experienced several declines but did not fall below this resistance position. This proves that this resistance position is very stable. Yes, that is to say, when it falls to the resistance position near 108000 again, we can open a long order and control the odds of at least 1:3, then basically there will be no big problem. If it falls below the resistance position drawn at this time, then even better. We can open a short order at this time and we can make greater profits. Current status (4 hours level): ![]() As shown in the figure, it has reached 112450, which is already 4 hours. The EMA20 moving average crosses the 60 moving average, but there is a small resistance position above it. It also broke through briefly some time ago and then recovered. Therefore, it is not yet fully confirmed in 4 hours whether it can break through this resistance position. Let’s switch to the large level and take a look at the 1D graph.: ![]() Analysis: As shown in the figure, converted to a 1-day K-line, the 20-day moving average is currently crossing below the 60-day moving average. By analogy, it is currently not optimistic that it can quickly break through the small resistance position. Even if it breaks through, there is a diagonal resistance position above, about 114,000. In this way, even if it breaks through briefly, it may fall quickly. Conclusion: The current situation is still unclear, that is, it is currently in a volatile market (in the next 5 days), so I personally think that it should still fluctuate between 108000-113000. Even if there is a breakthrough, I think it will not exceed the diagonal resistance, which is 115000. If it can hang here between 113000 and 11500 and there is no upward momentum, you can consider opening a short position at 1:3. To achieve a big breakthrough in the future, we need to make sure that the 20 moving average crosses 60 and crosses 120, so that we can be sure. |