1-hour BTC analysis:

First of all, because the downtrend line mentioned by the master yesterday has been broken, the master temporarily considers 61000 as a support range. With the increase in the market's bullish trend, if the price of BTC breaks through the suppression of the uptrend line in the short term, then we can maintain a short-term rebound bullish view.

Although the price of the coin has risen to 62000, due to the increased uncertainty of the Fed's interest rate cut, BTC may still face some challenges from bearish news.

In addition, due to the possibility of temporary adjustments and sideways movements in the previous range after the rise, it is wise to trade back and forth within this range.

The first resistance level during the day is at 63250, and the second resistance level is at 64000. If the price approaches the vicinity of the first resistance, the master believes that it has already stabilized above the uptrend line, so 63000 can be set as support, and then the bullish view can be maintained.

Also, due to the pressure of the 120-day moving average on the 1-hour chart, we also need to pay attention to whether the price can break through the 120-day moving average on the 1-hour chart.

The first support during the day is at 62600, and the second support is at 62120. The master believes that it is best for the price of BTC not to adjust to the first support, because if the price reaches the first support again, it will be a bearish trend.

Of course, in short-term trading, you can try to see a rebound once, but if the price falls below the first support, BTC will still turn into a bearish trend in the short term.

In today's trading, the master believes that the support near 61000 from yesterday is still effective for the time being, so today I will continue to maintain a mainly bullish view.

The current price is retesting the range of 63000, and it is uncertain whether it can successfully break through. Therefore, the master suggests that trading during the day can be conservative, and decide on the entry position after observing near 63000.

Please refer to the following information when trading:

5.10 Master Chen's Short-term Pending Orders:

Reference for long entry position: Buy in batches in the range of 62200-62600, defend 500 points, target 63400-64000

Reference for short entry position: Sell in batches in the range of 63600-64000, defend 500 points, target 62600-62120

This article is exclusively planned and released by Master Chen (WeChat public account: 币神师爷陈). If you need to understand more real-time investment strategies, untangling, 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 macro analysis articles updated across the network, mainstream coin and altcoin technical analysis, and spot mid-to-long-term replay price prediction videos.

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