BTC high adjustment may fall back below 100,000
Technical analysis of Bitcoin (BTC): high-level shock consolidation, pay attention to the key breakthrough direction
Trend structure analysis
Daily level: The overall strong upward trend is still maintained, but it will enter the high-level adjustment stage in the short term.
4-hour level: Previously, it was a step-by-step upward channel, and the price climbed from 74,500 (double bottom support) to 112,000, and then fell back and fell below the upward channel, entering a horizontal consolidation.
1-hour level: It is currently in the correction range of the last round of rise in 4 hours, and a 101,500-106,500 shock box is formed in the short term.
Key support and resistance
Upper resistance: 106,500 (upper edge of short-term range), 108,000 (suppression of downward trend line)
Lower support: 101,500 (lower edge of short-term range), 98,000 (deeper callback support)
Operation strategy
Short-term trading (buy low and sell high within the range)
Long order reference: 101,500-102,000 area, stop loss 100,500, target 105,000-106,500
Short order reference: 106,500-107,000 area, stop loss 108,000, target 103,000-101,500
Swing trading (pay attention to trend breakthrough)
If the rebound is blocked at 106,500-108,000 (suppression of downward trend line), short orders can be arranged with a target below 101,500.
If it breaks through 108,000, it may restart the upward trend. You can go long after the pullback, with the target of 112,000.
Summary
Bitcoin is in a high-level shock correction in the short term. Before breaking through the 101,500-106,500 range, you can sell high and buy low. If it falls below 101,500, it may further pull back; on the contrary, breaking through 108,000 may continue the upward trend. It is necessary to pay close attention to the breakthrough of key positions and adjust strategies flexibly.
