#Bitcoin's current trend is still trapped in a 4-hour range oscillation. Although the overall trend is relatively strong, it still lacks the ability to break through in the short term, so the viewpoint remains unchanged, continuing to reference the oscillation and correction at the daily level. It is important to note that after experiencing high-level oscillation over the weekend, the daily range quickly shrank from a 10,000-point amplitude to a 7,000-point amplitude, and the speed of this contraction was quite rapid. Considering the timing this week, it is expected that from Wednesday to Friday, the daily level will need to establish a clear direction. Will it break down and complete the first wave of correction? Or will it break upwards, surpassing the previous high and entering a main upward wave? This week is indeed worth looking forward to. There are too many macro narratives this week, and the weight of technical analysis may be significantly weakened, so caution is advised.
Cato_KT
Cato_KT27.7. klo 22.57
Currently, the one-hour range amplitude of #Bitcoin has shrunk to 500 points, indicating a technical need for a breakout. A downward breakout below the support at 117,600 and an upward breakout at the resistance of 119,700 should be noted. If the upward breakout does not break the resistance, the daily level correction rhythm has not yet completed. From a daily perspective, the range has shrunk to 10,000 points, so starting next week, we need to pay attention to the daily level trend changes.
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