4 hours:

As Bitcoin continued to maintain range oscillation on Saturday, there is not much difference in today's analysis compared to the previous day. However, based on the current consolidation range, the first support level has been raised to $60,500 by the master.

If the price of Bitcoin forms a large long black line after oscillation and is unable to fill the rise and repair the indicators, there is a possibility of further decline. Therefore, it is more important at this time to focus on whether the price can stabilize at the bottom of the oscillation box range.

The short-term first resistance is at 61,100, and the second resistance is at 61,700. If the price stabilizes in this range after breaking through the first resistance, the master will maintain a short-term bullish view.

Therefore, at present, the master will consider the first resistance as a short-term obstacle. If the price breaks through, it will be necessary to pay attention to the resistance of the 20-day moving average and analyze from an adjustment perspective.

The first support is at 60,500, and the second support is at 59,250. Intraday, we can set the first support as an important support line because it is the low point maintained during the consolidation process.

If it falls below this support line, the low point will be even lower. Therefore, the master believes that the price will open up the maximum downside space after falling below around $59,000.

However, if the price falls below the bottom of the box range, compared with a sustained significant decline, a short-term rebound can be expected near $59,000 in the mid-term.

Therefore, in today's trading, the master will continue to maintain a bearish view for major short-term trades.

However, if the price breaks through $61,100 and stabilizes today, the master will switch to a bullish view. But it's not too late, so the master will consider the downward view from a short-term trend perspective.

Please refer to the following information when trading:

5.12 Master Chen's Short-term Pending Orders:

Long entry reference: Buy in batches in the range of $60,200-$60,500, defend 500 points, target $61,100-$61,400

Short entry reference: Sell in batches in the range of $61,100-$61,400, defend 500 points, target $60,500-$60,000

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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