Master's Trend Analysis:

BTC 4-hour chart:

According to the chart analysis from the previous day, Bitcoin has broken through the upper edge of the converging triangle and is testing the resistance level at 60,000.

Currently, due to the news of the German government completing the sale of Bitcoin, Bitcoin has rebounded to the major support level.

Since it has broken through the upper edge of the converging triangle pattern, we can maintain a bullish view. At the same time, after the decline, we can continue to maintain a rebound view using the previous high point as support.

Resistance Level Reference:

First Resistance Level: 59,800

Second Resistance Level: 60,600

First, the master believes that at this stage, we should not expect the price to break through the first resistance level, but rather focus on whether Bitcoin can close and stabilize at the 120-day moving average in order to seek opportunities for a rebound.

Due to the formation of upper shadow on the candlestick chart, there is a high possibility of temporary selling pressure and a small pullback in the short term.

Support Level Reference:

First Support Level: 58,900

Second Support Level: 58,230

The first support level is the high point range after the decline, which has turned from resistance to support. In order to maintain the current trend, a rebound near the first support level is needed to increase the probability of testing 60,000.

If the next candlestick chart stabilizes above the 120-day moving average, a rebound can be expected in the short term. At the same time, adjusting to the first support level and combining appropriate adjustments can increase the probability of successfully testing 60,000.

Today's Trading Suggestions:

In today's trading, it is advisable to maintain a bullish view and look for pullback ranges.

Identify the range that needs adjustment, and around 58,900 is a good range with a high risk-reward ratio for anticipating a rebound.

Please refer to these suggestions when trading.

Master Chen's Short-term Pre-set Orders on July 14th:

Long Entry Reference: 57,800-58,200 range, staggered long positions, defend 500 points, target 58,900-59,800

Short Entry Reference: 60,600-61,000 range, staggered short positions, defend 500 points, target 59,800-58,900

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

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