#BTC
BTC Opinion Update:
On the smaller timeframe, a rebound upward has unfolded. It was stopped near the mentioned resistance level around 642.00, which also happens to be close to the four-hour downtrend line!
Overall, you can view it as a small wedge-shaped channel. Support is around 628.00. The oscillations within the converging channel are getting smaller and smaller—the key is to wait for the subsequent breakout direction!
Given current market sentiment and the pressure from U.S. stocks, there is still a lot of pressure upward. Once U.S. stocks see a pullback, BTC will likely drop even more.
For bottom-fishing: be patient and wait for the best opportunity to appear
BTC Opinion Update:
On the smaller timeframe, a rebound upward has unfolded. It was stopped near the mentioned resistance level around 642.00, which also happens to be close to the four-hour downtrend line!
Overall, you can view it as a small wedge-shaped channel. Support is around 628.00. The oscillations within the converging channel are getting smaller and smaller—the key is to wait for the subsequent breakout direction!
Given current market sentiment and the pressure from U.S. stocks, there is still a lot of pressure upward. Once U.S. stocks see a pullback, BTC will likely drop even more.
For bottom-fishing: be patient and wait for the best opportunity to appear