The recent overall trend has shown a weak and oscillating pattern. Without much impact from the news, the focus is mainly on running short-term resistance and support levels. The only thing worth following at the moment is that the BTC transferred by the US government last night has not actually entered the market. It is still uncertain whether there will be any short-term impact from selling in the future. In the short term, as the high points of the Rebound are getting lower, the buying momentum in the market is not as crazy as before!



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Currently, the selling pressure zone of the pump has not been broken through, and the high zone is still adjusting. Due to the lack of sufficient pumping momentum, the trading volume has not risen significantly, so it is necessary to digest the selling pressure zone above through multiple backtests. It is currently in the psychological support and previous low point area, which is also an important short-term support line. In the short term, due to the fluctuation of the price on the pump trend line, it is recommended to observe whether there is a downward breakthrough and use the candlestick patterns and trading volume of the low time period chart to assist in judgment.



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From the current market data structure, the overall trend has been a continuous slow decline, but it is currently stabilizing. Looking at the hourly chart structure, after each pullback, long positions will enter a period of strength. I have been emphasizing this point. The rise after the pullback is confirmed after the bottom support, so it is obviously irrational to short at this point. Therefore, there will be more oscillation within the range in the near future. I personally believe that the current struggle between long and short positions is paving the way for the upcoming rebound of long positions. It's just relatively weak at the moment. In this oscillating market, both long and short positions have opportunities for profit. The key is to choose the right get on board position. Once the appropriate entry timing is determined, the operation will be more confident and certain.