$BTC Evening View:
The big coin is currently in a consolidation after a decline, but why do I feel like many people are going long near the consolidation? Do you think the big coin is about to rebound? You might be overthinking it; look at the three positions pointed out by the white arrows in my chart, all of them are shooting star candlesticks. Is this the rhythm for an upward movement? For it to rise, the closing price should stay above 66781. The closing price has failed to remain above 66781 after three consecutive upward spikes. Is this going to rebound? Don't think that after a drop it will definitely rebound; even if the price is 10,000, it will continue to decline in a downward trend. Don't just look at the price; pay attention to the position. It's important to see what position the big coin is currently in. The price is not as important as the position. Moreover, an M-head neckline has appeared within the flag, at 66261. If it breaks the neckline of the flag, it will likely continue to decline. The hourly level M-head has been established, and it will inevitably test the previous low at 65501.
If the previous low is broken, pay attention to the range below at 64196-63038! Furthermore, once 65501 is broken, the red boxed consolidation area will be destroyed, leading to another consolidation below to choose a direction. The best trend right now is for the big coin to maintain a fluctuation within the flag. For a rebound to happen, it must stabilize above 66781; otherwise, it won't bounce back, and external factors also do not allow for a rebound.
The big coin will break through 66883 with volume; go long to catch the rebound. If it breaks down with volume at 66288 and cannot recover, go short on the right side. Make sure to set stop-losses.
If the big coin stabilizes above 66781, look upwards at 67798-68100. If it can't get above 66781, it won't matter.
At the 4-hour level, breaking below 66303 looks down towards 65398-64038.
At the daily level, the flag has been broken, and the EMA 20-day moving average has been broken. The big coin cannot regain its position within the flag. The next target at the daily level for the big coin is the previous low indicated by the white arrow at 62210-59888. The MACD at the daily level has returned below the zero axis, and currently, the bears occupy the high ground.
Therefore, try to focus on shorting for now. The big coin will only rebound when it re-establishes itself within the flag and breaks above the EMA 20-day moving average. Pay attention to changes in trading volume. Meeting adjourned.
