Master Chen 5.4: Trend reversal? The market still needs to build a bottom! #比特币现货ETF持续淨流出 #美国4月非农就业人口增加不及预期 #BTC走势分析 #BTC🔥🔥🔥🔥🔥🔥

BTC 4 hours:

With the sharp slowdown in the US labor market and the increased possibility of interest rate cuts, the price of Bitcoin has risen by more than 6%. In addition, with the release of employment indicators that directly affect inflation, the market has also reflected expectations of easing inflation.

Since the 4-hour downward trend line mentioned by Master Chen in the article the day before has been broken, I think the trend has changed, so Master Chen will continue to be bullish on the weekend market.

The first resistance level of the day is 62850, and the second resistance level is 63640. When the price breaks through the first resistance area, we can expect Bitcoin to retest the 63000 area.

In addition, due to the selling pressure above, it may go sideways for a period of time, and it can also be preliminarily determined to build a bottom below. Master Chen personally believes that there is a high probability that the high point will continue to refresh, so it is very important to grasp the appropriate adjustment for trading.

The first support level during the day is 62200, and the second support level is 61720. If the price adjusts, I think the first support is an appropriate adjustment point.

You can pay attention to whether there is a low point in the small-level trend. The second support is the long upper shadow line that appears after the K-line forms a large positive line. So if the price falls below the first support in the short term, the master will consider the short-term bearish view.

In today's trading, considering that the price has broken through the trend line, I will continue to enter the market with a bullish view. In addition, due to the sharp rise in the price of BTC, the master is more inclined to restart the long position after bottoming out below, rather than directly rising sharply.

So when the price enters the overbought zone, everyone also needs to pay attention to adjusting the direction, while maintaining a bullish view of the callback.

5.4 Master's short-term pre-buried order:

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Long entry reference: 61800-62200 range can be long, defense 500 points, target 62850-63500

Short entry reference: 62850-63400 range can be short, defense 500 points, target 62200-61800