At 09:00 on September 16, 2023 (UTC+8), the BTC price is around $26600.Trend: ShortJudgment:Continuing the previous analysis, prices rebounded weakly at the pressure line of 31000
At 09:00 on September 16, 2023 (UTC+8), the BTC price is around $26600.
Trend: Short
Judgment:
Continuing the previous analysis, prices rebounded weakly at the pressure line of 31000.
If the bearish position continues, the price targets will be 16200-18400 and 9800-12000 respectively.
Trend: Bulls
Judgment:
Continuing with the previous analysis, there is significant resistance in the 29000-32000 area above, and prices have shown signs of weakness in the upward direction. We have also tested the recent wave of bullish starting support near 24800 twice.
If the price effectively breaks below the 24800 line and forms a short trend after fluctuating within the range, then from the perspective of this level, there are no strong obstacles to reaching above 17000- before that, one can first expect this break to stabilize in the 19500-22600 range and form a mid line rebound.
At present, the partial rebound in prices has not been confirmed to be over. Overall, considering the shape of the level and the trend of the sub level, a higher probability can still be expected: the support line near 24800 will break down after the third trial.
In addition, from the perspective of price pattern, at the 1w level of the weekly line, if the price falls below the "neck line" position of 24800-25900, the ideal operating target is around 21400 and 18100.
Trend: Short
Judgment:
The pressure line of this level is currently located in the 28170 area, with pressure zones of 27700-28170 and key pressure zones of 29000-29700 above the current price; The nearest support area is distributed in the range of 24800-25100 and 23000-24000.
The overall 1d level bearish position has been launched since the 30300 area, and two weak weekly bull defense lines have been tested.
At present, prices can be expected to rebound to the upper pressure zone in the short term before turning around and moving downwards.
Trend: Bulls
Judgment:
Support line 24888, support areas 26000-26400 and 25000-25300; Important pressure zones 27180-27700.
Continuing the previous analysis, we still expect prices to move to the important pressure zone of 27180-27700.
Trend: Bulls
Judgment:
The support line is located at 26200, with support areas 26250-26370, 25850-26100, and 25000 25150; Pressure zones 27130-27180 (heavier) and 27550-27770.
The price of 1h is currently in its second wave since the launch of the 24888 bull market, starting around the 26200 support line.
It can be expected to move upwards to the pressure zone.
According to the wave shape assumption, the current market state is likely to be in the rebound wave C, with specific coordinates assumed to be C - (3) -3/4. (Micro wave type uncertainty is greater)
The main contradiction in recent trends remains:
Near the pressure level of the 1M bearish trend near the monthly line, there is a game confrontation between tired weekly 1w bulls and daily 1d bears.
At present, the weekly bulls are in a desperate struggle - a wave of strong 4h bulls are approaching an important pressure zone.
The participatory approach remains consistent:
In the short to medium term, there are existing bull trend tracking participants in the lower level of 1-15m.
In the medium to long term, referring to the suppression of short positions at the 1M and 1d levels and the weakness of long positions at the 1w level, combined with the pressure zone at the 4h-1h level and local short reversal signals, start from a small point and enter the field along the short positions on the left and right sides in a timely manner.
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