Daily Market Analysis — BTC

The relationships between different timeframes are complex. This complexity is not due to difficult technical analysis but rather because there is little analytical value; or in other words, the entanglement of trends across timeframes results in poor short-term stability. For most people, the best approach is to operate minimally or not at all.

There are many things I want to say, but feeling bored, I will as usual combine some key levels on the daily chart to express my personal view.

1. Respect the objective fact that the price is on the bearish side; any upward rally should only be considered as a potential opportunity for a high sell, not a direct bet. A month ago, I mentioned that the rebound towards the 100,000 level was a confirmation of the bullish and bearish trend; now, the rebound towards the 100,000 level is a divergence between price lines (corresponding to a trend duration of about 10-15 days).

2. The bullish and bearish relationships across different timeframes are chaotic. This is a typical result of a lack of dominant capital (be cautious of downward trends). During intraday trading, support and resistance levels across all timeframes should be viewed as short-term points. Meanwhile, in the background, be wary of the previous consolidation face-off at 94,150 turning into a near-fake-out trap.

Returning to the entanglement of trends across timeframes mentioned at the beginning, how to understand this? It means: support levels in some timeframes are above resistance, or resistance levels are above support, making it impossible to form a collective force locally. Skilled traders should focus on smaller levels for their own operations, while those with less time can refer to larger levels for order placement.

First resistance: 94,150~95,345
Second resistance: 99,800~102,599
First support: 85,383~83,768
Second support: 78,340~75,850