BTC 4 Hours:

Bitcoin is currently experiencing a small rebound and has formed a short-term upward channel. Despite the weakened expectation of interest rate cuts, Bitcoin is still able to maintain support near 61000.

However, due to the lack of a significant rebound after a sharp decline, the master believes that the risk of a further decline cannot be ruled out in the near future. In terms of short-term market trends, if the price breaks through the upper boundary of the upward channel, the master will maintain a short-term rebound view.

If the price falls below the lower boundary of the upward channel, it may form a bear flag pattern, so the master will switch to a bearish mindset.

The first resistance level during the day is at 61800, and the second resistance level is at 62200. For the short-term trend, attention should be paid to the 20-day moving average and resistance near 61500. The master expects the market to fluctuate repeatedly within the upward channel.

Therefore, we can adopt a short strategy in the resistance range, with the first support at 61130 and the second support at 60600. When the price is near the first support, a short-term rebound is expected, but everyone needs to pay attention to the psychological support at 61000.

If the price falls below 61000, Bitcoin will break through the lower boundary of the short-term upward channel, and the bearish trend will once again gain momentum.

So today, we can observe the fluctuation of candlestick prices within the upward channel and adjust positions flexibly. As the price is still within the upward channel in the short term, a bullish mindset can be maintained temporarily. If it falls below the lower boundary of the channel, the master will switch to a bearish mindset.

Please refer to these suggestions when trading.

5.13 Master Chen's Short-term Pre-set Orders:

Reference for Long Entry: 60900-61200 range, gradually enter long positions, defend 500 points, target 61800-62200

Reference for Short Entry: 61800-62100 range, gradually enter short positions, defend 500 points, target 61000-60600

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, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication, hoping 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% follow the trend; daily updates on macro analysis articles across the network, mainstream coin and altcoin technical indicator analysis, and spot mid- to long-term replay price prediction videos.

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