BTC 1-hour:

Currently, Bitcoin is facing a situation where negative impacts from the Middle East and positive impacts from Hong Kong coexist, leading to reduced market volatility. A large bullish candlestick has appeared in the 1-hour timeframe, forming a short-term uptrend, but it is still within a long-term downtrend.

If the bulls want to rise again, the price needs to break through and stabilize above the selling area, in order to expect further gains. Due to the recent decline, many people are trapped at higher levels, so once the price returns to the trapped area, there may be small stop-losses from retail investors or selling pressure as they attempt to break even (so we must pay attention to whether there is an influx of trading volume).

The first short-term resistance level to watch is 65640, and the second resistance level is 66470. If the market breaks the first resistance level, it will enter the selling area above, and the momentum for further gains will increase. We can observe whether the price can hold the first resistance level during the pullback after the breakthrough, as the location of the first resistance level is within the same price range as the 60-period moving average (MA) on the 1-hour timeframe. Additionally, we need to pay attention to the trend of the 60-period MA.

The first intraday support level is around 64600, and the second support level is 63830. Firstly, the first support is the selling area formed yesterday, and since a large bullish candlestick has already been broken through, it is expected to hold the first support in the event of a price pullback. If the price returns to the selling area, the short-term downward momentum will continue to increase.

In today's trading, as a large bullish candlestick has formed, we can focus on entering trades based on short-term rebounds. With both upper resistance and lower support areas, it is expected to trade within this range, forming a consolidation range.

The consolidation range is around 64600-65600, and this range can be used as a reference for intraday trading.

4.15 Shiyechen's Short-term Pending Orders:

BTC:

Long entry first reference: 64600, second reference: 63830, target: 65640-66470

Short entry first reference: 65640, second reference: 66470, target: 64600-63830

This content is exclusively planned and published by Shiyechen (WeChat public account: Coin God Shiyechen). If you need to understand more real-time investment strategies, de-risking, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Shiyechen 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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