BTC 4 Hours:

Bitcoin has currently broken through the downtrend line and seen a significant increase after the trend reversal.

The longer the horizontal period on the chart, the higher the probability of a significant fluctuation in one direction.

Since the direction is already determined, the master believes that the short-term bullish view is still valid. However, as it is a rebound in unfavorable news, it is still necessary to pay attention to the news of Mount Gox for chart analysis.

Resistance levels reference:

First resistance level: 64000

Second resistance level: 64500

When the coin price breaks through the first resistance level, instead of considering further upward movement, it is better to consider that Bitcoin may consolidate in the short term, which will also be a better risk-reward ratio range.

If entering at a relatively low price in a fully risen range, the bullish view can be maintained.

However, for traders entering the market now, they should expect to encounter adjustments near the resistance level and quickly take profits.

Support levels reference:

First support level: 63350

Second support level: 62750

In the short term, if the first support level can hold, it will be a short-term upward range.

But if the first support level is breached, further adjustments should be considered, and a better entry point should be sought near the second support level.

After the consolidation and solidification of the low point following the rise, Bitcoin is considered to have a healthy upward trend. In anticipation of a short-term rise, the master suggests everyone to pay attention to whether 63.3K can hold.

Today's trading advice:

In today's trading, the master will maintain a mainly bullish view. Because there has already been a significant increase in the coin price, it is worth paying attention to whether the low point can be consolidated and continue to consolidate within the range after the rise.

As there are still many resistances above, please pay attention to the 120-day moving average and the second resistance level, and wait for the opportunity for a pullback.

The master mentioned in yesterday's short message that from the current trend, he personally believes that there will be a new low. So after the rebound, pay attention to around 64.5K. As mentioned in the post earlier, there is still a chance for Bitcoin to fall below 56550, and ETH has not completed the retracement to 3k, so this rebound can be anticipated.

Please refer to these suggestions when trading

Master Chen's Short-term Pre-set Orders on 7.1:

Long entry reference: 62400-62800 range, staggered long positions, defend 500 points, target 63500-64000

Short entry reference: 64500-64900 range, staggered short positions, defend 500 points, target 63700-63300

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, how to get out of trouble, 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% 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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