Yesterday, in the early hours, after BTC plunged to 57860, it saw a strong short-term rebound. As analyzed in yesterday's article, the rebound successfully broke through the previous high of 60234, reaching a high of 61166, and then experienced resistance and pulled back. The current price is 59300.

The rebound from 57860 to above 60234 and up to 61100 indicates signs of short-term bulls re-entering. The first factor mentioned in yesterday's article regarding the rebound's upward trend has been achieved. Next, we need to see if there will be a second factor: whether there will be a two-buy at the hourly level. The outcome should be evident based on the current structure of the two-buy at the intraday level.

First, looking at the hourly chart, the current movement is a downward pullback, which has not yet been confirmed as a completed two-buy, but rather a potential two-buy. Whether a two-buy will occur depends on the evolution of the 15-minute trend. Once a two-buy occurs, the probability of an upward trend at the hourly level will significantly increase. It is also important to note that if the upward rebound fails to break through 65000 with volume at the hourly level and does not form a two-sell, it can be basically confirmed that the larger 4-hour trend will move into a downward pullback. Therefore, when a bearish divergence point appears during this hourly rebound, it is still a time for medium-term reduction.

Next, looking at the 15-minute chart, attention should be paid to whether the current 15-minute downward movement will form a new low and trigger a two-buy. If a two-buy occurs, it will continue to follow the strength of the rebound after the two-buy. If it successfully breaks through 61166, it confirms that an upward trend at the hourly level has emerged. If the rebound is weak and cannot break through 61166, the trend will fluctuate, and there is a considerable probability of continuing to break through the low of 57860.

Ultimately, the only level of trading that can be determined at the moment is the 15-minute central oscillation. Short-term trends change rapidly, are influenced by many factors, and often lead to small changes. Therefore, those who are not good at short-term trading can ignore small-level fluctuations.

In conclusion, we should be clear that the current trend is a downward pullback at the 4-hour level, and this downward pullback has only lasted for three days and has only completed two movements, with no internal structure. It is still too early to say that the 4-hour downward pullback is complete, and the opportunity for a major bottoming out still requires patience.

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

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