$BTC Evening View:
Everything that can happen to you is acceptable to you, otherwise it wouldn't happen to you. For example, if you're currently stuck in a long position in Bitcoin, you can accept that. If you couldn't accept that, you would have sold your losses long ago. Am I right?
Is there any bad news out there right now? It doesn't seem to be any bad news! At least I haven't seen any.
So why is Bitcoin falling? If it wants to fall, can you stop it? Those who search the world for bad news are just trying to find an excuse for this decline. In fact, you already know the answer.
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Chart: Bitcoin's 15-minute small-scale decline has already reached a high point and a low point for its natural rebound.
Now that the high and low points are in place, is there any need to ask what to do next? For Bitcoin to form a W-bottom on the 15-minute chart, it must first break through the neckline indicated by the yellow arrow. Only after this breakout can a W-bottom be formed. If it fails to do so, it will continue to fluctuate within the 115978-114219 range, until a breakout or breakdown occurs. Only then will a small-scale trend emerge.
If Bitcoin breaks through 115290 with strong volume, buy on the right side to take advantage of the rebound. If it breaks below 114525 with strong volume and the rebound fails to recover, buy on the right side and set a stop-loss.
If Bitcoin breaks through 115279 on the hourly chart and stabilizes, it could see upward movement towards 115980-116948. If it can't break above 115279, it's useless.
If it breaks below 114735 on the 4-hour chart, it could see downward movement towards 113785-112005. If it fails to recover below 114735, a 4-hour correction has officially begun. Looking at the chart again: Bitcoin's 20-day EMA has fallen below its daily moving average. If the daily close doesn't break back above it by 8 PM tomorrow, Bitcoin will experience a daily correction.
From a moving average perspective, the strongest support below is the 50-day EMA near 112,928. Moving averages will fluctuate with the price over time. Open the chart settings and adjust them yourself. If the 50-day EMA is broken, the market is completely over. Dismissal.
$BTC
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