BTC 4 Hours:

Yesterday, Bitcoin received short-term support in the $61,000 range and is currently in a small-scale rebound trend. Given the support at $61,000, at this point, the analyst will maintain a bullish view and is optimistic about a retracement after the downtrend breakthrough.

Due to the release of the CPI index today, there may be significant fluctuations in BTC during the release period. If you have a position before 21:30, it is recommended to set strict take-profit and stop-loss orders.

The importance of this CPI release lies in the potential expectation of a rate cut if the inflation rate decreases. If the CPI is lower than expected, the bulls may come back.

The first resistance level to watch today is at $62,200, and the second resistance level is at $63,000. When the BTC price breaks through the first resistance level, the analyst expects BTC to possibly retest the $63,000 range.

Before the CPI release, Bitcoin fluctuated within the downtrend line. If the price breaks the resistance of the downtrend line, the analyst will then adopt a bullish view.

The first support within the day is at $61,460, and the second support is at $61,000. Firstly, the first support is an important support line, and if it breaks in the short term, it will lead to BTC price falling below the low point, and $61,000 may face a breach.

Therefore, once the price breaks this support, there is a need for those holding long positions to be aware of the risk of a significant decline.

Please refer to these suggestions when trading.

5.15 Analyst Short-term Pre-set Orders:

Reference for Long Position Entry: Long in batches in the $61,000-$61,400 range, with a 500-point defense, targeting $62,000-$62,200

Reference for Short Position Entry: Short in batches in the $62,900-$63,300 range, with a 500-point defense, targeting $62,200-$62,000

This article is exclusively planned and published by Analyst Chen (WeChat public 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 Analyst 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% going with the trend; daily macro analysis articles updated 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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