1-hour BTC analysis:

Based on yesterday's closing situation, I also noticed that the market is still continuously falling within the downward channel. Currently, the market is experiencing a brief rebound at the bottom of the channel. In this range of ups and downs, the master suggests adopting a short-term operation strategy for the rebound.

Due to the continuous panic brought to the market by Mt.Gox's selling pressure news, and with the upcoming FOMC interest rate decision, the market is gradually declining.

The current positive factor may be that although there is almost no possibility of a rate cut in this FOMC meeting, if Federal Reserve Chairman Powell makes positive remarks at the press conference after the FOMC meeting, it may have a significant impact on the market.

The first resistance level for the day is 63070, and the second resistance level is 63400. When the price breaks through the first resistance level, we can reconsider the strategy for the rebound. If the RSI indicator shows positive divergence, then we can expect the market to break through 63000.

The first support for the day is 62400, and the second support line is 61750. We can consider the first support as an important support. If the market continues to fall, it may open up a downward space to 61000.

Therefore, the market must hold the first support in order to rebound. Therefore, the main idea for the day is to maintain a bearish view. However, everyone can also make short-term trades near the first support to observe a rebound.

So in today's trading, we can maintain a mainly bearish operation strategy and quickly take profits after short-term trades. In addition, as the low points continue to decrease, the probability of the market's decline has been increasing. Therefore, the master will continue to observe the historical low points of the market and choose to wait and see before entering the market without a definite entry point.

4.29 Master's Short-term Pre-set Orders:

Long reference: 62400, 61750

Short reference: 63070, 63400

This article is exclusively planned and published by Master Chen (WeChat public account: 币神师爷陈). If you need to understand more real-time investment strategies, untangling, spot contract trading techniques, operation skills, and candlestick knowledge, you can add Master Chen for learning and communication. I hope to help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% trend-following; daily updates on macro analysis articles across the network, technical indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.

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