BTC 4-hour:

After yesterday's market decline, it is currently testing the 64000 area. Although the 4-hour chart shows that the downtrend line has been broken, buying pressure has not yet entered. A resistance area has formed near 64400 on the 4-hour timeframe.

Due to the lack of significant increase in trading volume, a flexible holding strategy would be more suitable for short-term trading. If the price rebounds near 61700, this may indicate that the market is bottoming out.

The first resistance level can be referenced at 64080, and the second resistance level at 64850. When the price breaks the first resistance level, it will likely reach the second resistance level in the short term. However, based on the current trading volume, there is a higher probability of a short-term adjustment at the first resistance level.

Additionally, in the case of breaking the downtrend line, the 20-period moving average (20MA) on the 4-hour timeframe also acts as a resistance.

The first support level for the day is around 63340, and the second support level is around 62880. If the price falls near the first support level on the 4-hour timeframe, it can be considered as a short-term entry opportunity at the bottom. If it falls below the first support, there will be a short-term decline, but it can be seen more as an opportunity for a rebound.

In today's trading, the price is in the 64000 testing range. The market may fluctuate up and down, so our position can maintain a brief high selling and low buying trading method.

In addition, I personally believe that it is not advisable to hold long-term positions in the current market. It is recommended to take profits when a certain profit is reached or when there is a market washout, which is a more reasonable way to accumulate profits in the current market environment.

4.17 Shiyechen's Short-term Pending Orders:

BTC:

Long entry first reference: 63340, second reference: 62880, target: 64000-64500

Short entry first reference: 64080, second reference: 64850, target: 63200-62900

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