As the price of BTC returned to the lower boundary of the 1-hour center, it once again broke through the previous low of 58034 to 57860 in the early hours of the morning. Within the 1-hour level pullback from 65000, the first three-stage divergence structure appeared, indicating that the support line below the hourly center has played a certain role. Both long and short sides reappeared in this price range, with signs of short-term exhaustion in the short side and signs of re-entry in the long side.

From the perspective of the 1-hour level structure, the current situation still maintains the oscillating rhythm of the hourly center.

From the hourly chart, it can be seen that with the early morning break of the new low, the first three-stage divergence structure appeared within the downward segment at the hourly level. There is at least a demand for a rebound upwards. The strength of this upward rebound is crucial in judging whether the downward segment has ended. If the current rebound can break through the secondary high of 60234, the probability of the end of the downward segment increases. If this rebound cannot even break through 60234, then the downward segment at the hourly level will continue to extend to new lows. Of course, waiting for the appearance of the second buy within the downward segment, which is the opportunity to buy on the right side of the secondary level, will be much safer.

For those with a high risk preference, they can start to layout in batches, while those with a low risk preference can continue to wait for the right side signal.

Of course, at present, it can only be considered as operating within the oscillating rhythm of the hourly center. When an upward segment appears at the hourly level and a selling point appears at the secondary level, it is still an opportunity to reduce positions. The third opportunity to get on board at the 4-hour level mentioned in yesterday's article is still early!

The above analysis is for reference only and does not constitute any investment advice!

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