First, since BTC hit a high of 73835 on March 14 this year, it has been oscillating in a large range for 169 days, and hit a low of 49000 on August 5, which is also the needle high point of the high on January 11. In the entire oscillation range, there are several same points every time the decline stops, basically two consecutive shrinking volumes, and a huge volume on the third day, while also closing a large Bearish line. You can also look at the 12-hour Candlestick. If the 12-hour closing line, once it has a huge volume, you can start Spot. Currently, in the backtesting data, the success rate is 100%. Currently, many people are seeing a large-scale downward channel or a megaphone pattern in the market data, but I think it's still a converging triangle pattern. Once this pattern reaches the end of the triangle, it means a directional choice. Monthly timeframe: The monthly timeframe currently has little reference significance. It can only be said that the monthly timeframe is still in a long positions trend. If we only look at it from a naked Candlestick perspective, it is completely inaccurate. Basically, referring to the previous monthly Candlestick has little significance and instead affects the judgment of the trend. Weekly level: From the perspective of the pattern, the high points of each Rebound are gradually dropping, and the low points of each pullback are continuously dropping. There are still two days left until the weekly closing. If this week's weekly K is still a bare Bearish line, it will completely engulf last week's weekly Candlestick, which indicates a bearish trend. Daily candlestick level: Yesterday's daily chart closed with a long upper shadow, indicating significant selling pressure around the shadow area. Market makers have placed a large number of short orders near the shadow area. At the same time, the price of BTC has returned to around 58,000, and the 57,800 level has been tested multiple times, making it a key level. Once it is broken, it indicates that the long position trend has been disrupted, and there may be a possibility of a significant volume decline in price. 4-hour timeframe: Currently, the 4-hour timeframe is in a range of volatility after a wave of decline. The support is still at the 57800 level, and both the RSI and KDJ indicators have appeared Overbought and need to be repaired. At the same time, the price cannot fall below 57800.
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BTC:
First, since BTC hit a high of 73835 on March 14 this year, it has been oscillating in a large range for 169 days, and hit a low of 49000 on August 5, which is also the needle high point of the high on January 11. In the entire oscillation range, there are several same points every time the decline stops, basically two consecutive shrinking volumes, and a huge volume on the third day, while also closing a large Bearish line. You can also look at the 12-hour Candlestick. If the 12-hour closing line, once it has a huge volume, you can start Spot. Currently, in the backtesting data, the success rate is 100%.
Currently, many people are seeing a large-scale downward channel or a megaphone pattern in the market data, but I think it's still a converging triangle pattern. Once this pattern reaches the end of the triangle, it means a directional choice.
Monthly timeframe: The monthly timeframe currently has little reference significance. It can only be said that the monthly timeframe is still in a long positions trend. If we only look at it from a naked Candlestick perspective, it is completely inaccurate. Basically, referring to the previous monthly Candlestick has little significance and instead affects the judgment of the trend.
Weekly level: From the perspective of the pattern, the high points of each Rebound are gradually dropping, and the low points of each pullback are continuously dropping. There are still two days left until the weekly closing. If this week's weekly K is still a bare Bearish line, it will completely engulf last week's weekly Candlestick, which indicates a bearish trend.
Daily candlestick level: Yesterday's daily chart closed with a long upper shadow, indicating significant selling pressure around the shadow area. Market makers have placed a large number of short orders near the shadow area. At the same time, the price of BTC has returned to around 58,000, and the 57,800 level has been tested multiple times, making it a key level. Once it is broken, it indicates that the long position trend has been disrupted, and there may be a possibility of a significant volume decline in price.
4-hour timeframe: Currently, the 4-hour timeframe is in a range of volatility after a wave of decline. The support is still at the 57800 level, and both the RSI and KDJ indicators have appeared Overbought and need to be repaired. At the same time, the price cannot fall below 57800.