Yesterday, the market originally lacked a clear direction until the US trading session, when funds chose to push upward after midnight, ultimately driving BTC to close with a medium bullish candle on the daily chart.

It is worth noting that the global capital market is still under significant pressure overall, with many risk assets continuing to weaken, while the cryptocurrency market has become one of the few segments that are rising. Although this trend reflects the interest of funds in crypto assets, it also warrants caution.

One possible explanation is that some funds have flowed out of traditional markets and are temporarily back into the crypto market, pushing prices up in the short term. However, if macro risks do not improve and the crypto market continues to rise independently of other risk assets, such a trend is often difficult to maintain in the long run; we need to observe whether there is a continuous influx of funds to support it.

From a larger cycle perspective, the weekly and monthly charts still maintain a rebound structure, and the medium to long-term trend has not been broken. However, the current macro environment in the market is not ideal, and after a continuous short squeeze, investors also need to guard against the volatility risks brought by overly heated sentiment at high levels, rather than simply assuming the market will continue to rise unilaterally.

₿ Bitcoin (BTC)

Viewpoint: Sell high and buy low, patiently wait for signal confirmation.

BTC has been running at a 4-hour level for about 20 hours; although the price is still gradually rising, the pace of increase has significantly slowed down, relying more on time to maintain high levels rather than increased trading volume.

Currently, multiple cycles have synchronized to high levels:

• 1 hour, 2 hours, 4 hours, 6 hours, 8 hours, 12 hours are all at relatively high levels;

• The daily chart is also operating in a high area;

• Weekly and monthly charts still maintain a bullish structure, but there is a technical correction demand in the short term.

If the volume continues to be insufficient at high levels and the price cannot effectively break through the pressure zone, it is necessary to pay close attention to whether multiple short cycles form a bearish resonance. Once resonance occurs, the short-term correction speed may significantly accelerate.

From the funding perspective, there are currently a few signals worth noting:

• Trading volume is below the 30-day average level, indicating that new funds are still limited;

• The increase relies more on existing funds, and sustainability still needs further verification;

• The fear and greed index remains around 29, indicating that overall market sentiment is cautious, and the willingness to chase high prices is not strong.

In summary, the market currently does not show a clear trend reversal signal, nor has it formed strong breakthrough conditions; it is more suitable to maintain a range trading mindset.

Operational suggestions:

• As the rebound approaches the pressure zone, attention can be paid to short opportunities;

• Wait for a retest of key support, and after a clear stabilization signal appears at the 1-hour level, then consider buying low.

The most important thing right now is not to guess the top, but to wait for the market to provide a clearer directional confirmation.

Key Position Reference

Support: 63800-64200-63200

Resistance: 65300-65800-66200-67000

Tencent Meeting 24-hour live broadcast room: 901-588-1279

This article is originally published by 【Huaying Community】 and represents personal views only. Due to a certain delay in information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and operate cautiously.
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