Watch the video: Bitcoin Market Analysis 2024.02.20
BTC Daily Chart:
From the daily chart perspective, a bearish candle was formed yesterday, and the market is consolidating here with relatively small fluctuations. I believe that the high point above the market is very attractive. If the market continues to rise, takes this high point, and quickly falls back, it may present a good shorting opportunity.
BTC 4-hour Chart:
Looking at the 4-hour chart, the market rose to a high point yesterday and then retraced without breaking through the previous high. Therefore, I think it's too early to go long now because the market has not taken some of the lower points below.
BTC 1-hour Chart:
From the 1-hour chart, let's take a look at the volume distribution. The market once again fell below the POC line. I believe that the natural rebound low point below the market is very attractive. When the market previously fell to this natural rebound low point, it rebounded after obtaining liquidity. Therefore, if the market continues to decline and reaches this line, finding support, it will be a good opportunity to enter a long position. For taking profit, you can look at the position of the previous high point.
In summary, for today's market, it is necessary to pay attention to the natural rebound low point ahead, which is roughly the support level around 51,000. If the market falls below and recovers before the US stock market opens, it will be a very good long opportunity.
Feel free to discuss any aspects of today's market. Thank you.
Risk Warning: This platform promises to provide professional information services. The content provided by this platform is for reference only and does not constitute any investment advice. At the same time, this platform does not promise investors any returns, nor does it agree to share investment returns or bear investment losses with investors. The market carries risks, and investment should be cautious.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
