$BTC Evening View:
The Bitcoin is currently undergoing a stepwise decline on an hourly level, which should be apparent to everyone! As long as you're not extremely nearsighted, you can see that the highs are continuously decreasing, and new lows are being set. In this market, can you go long?
Going long can only capture a small rebound; it definitely cannot form a trend. Moreover, going long now is a counter-trend trade, so if you can avoid going long, you should. Don't think that just because it's dropped to over 60,000, it can't drop further. I can only tell you one thing: the decline may have just begun. Look at this yellow downward trend line in the chart; if it can't break through this yellow trend line, Bitcoin's rise is like carrying 500 pounds of rice—how far can you run? After just a few steps, you'll be exhausted.
When it breaks through this trend line, Bitcoin can continue to rebound; we can look up to 68523. For now, this is the highest I can see because only by breaking through 68523 and setting a higher high can we look to even higher positions. This 68523 is enough for Bitcoin to take a drink. Although Bitcoin is currently running above the support at 66697, this support is as fragile as paper; breaking it is just a blink of an eye. If the support at 66697 is broken, it will go back to test the support range of 65797-65235. What Bitcoin will do next after breaking this support range, I don't need to say.
Bitcoin breaks through 67121 with volume and chases long to eat the rebound. 66966 breaks down with volume, unable to recover, and chases short; keep your stop loss in check.
Bitcoin breaks through and stands firm at 67347, looking up to 68316-69258; if it can't go above 67347, it's useless.
On the 4-hour level, breaking below 66008 looks down to 65167-64161; if it breaks below 66008 and can't recover immediately, it will continue to fall.
Bitcoin is still running below the midline of the box on the 4-hour level and has already tested the M head-neck line downwards. The first test of the M head-neck line did not show a strong rebound, and if it tests the M head-neck line at 65873 again, it will likely be broken. Once 65873 is broken, the M head on the 4-hour level of Bitcoin will be established, and the second test of the previous low may come soon—whether it's early or late, it will come eventually.
It’s better to come early than to worry all day about when it will test the previous low. Meeting adjourned.
