Today’s Viewpoint:
1. BTC has broken below the 62,500 area, dipping as low as the 61,800 area. There is some degree of support in this zone. A brief rebound to test the 62,500 area is a normal phenomenon;
2. Before this Wednesday, BTC must fall below 61,000 for the bearish thesis to be fully validated. Ideally, today’s daily closing price should be below 61,000 so the threat to short positions can be removed;
3. BTC’s short-term 4-hour level rebound today must not break above 63,500. Otherwise, the short-position logic will face invalidation. If there’s a quick spike (a needle) and then a rapid pullback, that is acceptable; however, if the 4-hour time frame’s body breaks above 63,500, short positions become dangerous.
Note: The intensity of the Iran–Israel conflict, the outflow situation of assets from the BlackRock Bitcoin ETF, MicroStrategy’s stock price, and other factors remain key drivers affecting the crypto market—so they must be closely watched. Also, today’s CPI data must be closely monitored as well.
1. BTC has broken below the 62,500 area, dipping as low as the 61,800 area. There is some degree of support in this zone. A brief rebound to test the 62,500 area is a normal phenomenon;
2. Before this Wednesday, BTC must fall below 61,000 for the bearish thesis to be fully validated. Ideally, today’s daily closing price should be below 61,000 so the threat to short positions can be removed;
3. BTC’s short-term 4-hour level rebound today must not break above 63,500. Otherwise, the short-position logic will face invalidation. If there’s a quick spike (a needle) and then a rapid pullback, that is acceptable; however, if the 4-hour time frame’s body breaks above 63,500, short positions become dangerous.
Note: The intensity of the Iran–Israel conflict, the outflow situation of assets from the BlackRock Bitcoin ETF, MicroStrategy’s stock price, and other factors remain key drivers affecting the crypto market—so they must be closely watched. Also, today’s CPI data must be closely monitored as well.