Master Chen 5.6: The selling pressure of the market is reduced. The callbacks within the rising trend line are mainly #BTC走势分析 #BTC🔥🔥🔥🔥🔥🔥 #比特币现货ETF持续淨流出

BTC 1 hour:

At present, Bitcoin is in an upward trend at the 1-hour level, and it has been in a small callback rebound from last night to this morning.

So for the bullish trend, Master Chen believes that the first is that Grayscale ETF recorded its first net inflow, and the inflow of market funds has driven the rebound. Net inflow also means that the selling pressure of Bitcoin is decreasing, while demand is increasing.

The first resistance of the day is 64060, and the second resistance is 64400. At present, the third backtest of the first resistance has failed, so multiple failures to break through the upper resistance zone may lead to selling pressure.

Although the market is in an upward trend in the short term, it should be noted that if the upward trend breaks through again, more shorts will enter the market, so the bullish idea can only be traded in the ultra-short term.

The first support at the 1-hour level is 63540, and the second support is 63120. Then for the short-term downside space target, we can see the first support line. Although it is possible that it may rebound before reaching the first support line, I am more optimistic about the lower shadow formed by the K-line, so I will regard the first support as an important short-term support.

If the price falls below the trend line, we need to immediately turn to a bearish mindset and look for opportunities to rebound from the support level.

In today's trading, the 1-hour level trend shows a volatile upward trend, so I will maintain a bullish mindset in the short term. However, if the price falls below the rising trend line in the figure, we can take a bearish mindset in the short term and pay attention to the support strength below the falling trend line.

5.6 Master's short-term pre-buried orders:

Long entry reference: 63100-63500 range, long in batches, defense 500 points, target 64100-64600

Short entry reference: 64400-64800 range, short in batches, defense 500 points, target 63540-63200 (light position)

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