Master Chen 5.5: Trading within the consolidation range and waiting for the end of the convergence triangle #BTC走势分析 #美国4月非农就业人口增加不及预期 #BTC🔥🔥🔥🔥🔥🔥

BTC1 hour:

Bitcoin is currently entering a correction phase after retesting its highs. The market has experienced a significant decline and has recently experienced a significant rebound due to concerns about long-term high interest rates.

The master is concerned that many investors are currently in a state of hesitation, unsure whether now is a good opportunity to enter the market or a time to stop losses if they are cheated. In situations of low trading volume such as weekends, the market direction may often be unclear due to the influence of individual buying and selling behaviors. It is also prone to unexpected fluctuations, so everyone needs to pay special attention.

In the environment of long and short divergence in the past two days, it is crucial to grasp the support and resistance levels. During the day, the master also recommends that everyone can refer to the trend line for trading.

The first resistance level during the day is 63380, and the second resistance level is 64550. We can set the first resistance as short-term resistance. If the price breaks through, Bitcoin will retest $64,000.

If the 1-hour level fails to break through a new high after falling, further sideways adjustments are possible. Therefore, if there are long friends, when the price reaches the resistance zone, it is recommended to take profits first and then observe the market trend.

The first support during the day is 62640, and the second support is 62100. So for today's short-term trading, the first support can be regarded as an entry point for long orders, which is located near the upward trend line.

If the market falls below the rising trend line, then the master will turn to a bearish thinking. In today's trading, considering that the price of Bitcoin has slowly fallen, we can look for long areas after the callback in the small-level chart and try to find opportunities for rebound.

In view of the current trading volume, the master believes that it is not appropriate to expect the market to break through the high point again in a short period of time. The master predicts that prices will continue to move sideways, and the direction will be determined after the convergence triangle ends.

5.5 Shiye’s short-term prepaid order:

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Reference for long entry position: do long in the 62640-63000 range in batches, defend 500 points, target 63800-64500

Short selling entry position reference: 64150-64550 range short selling in batches, defense 500 points, target 63380-63000

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