Bitcoin Market Analysis (Note the risk of trap trading, focus on the rebound trend on the 4-hour timeframe)

Figure 1: At this time, the market is on the 4-hour timeframe, with the price at the midline of the range and also at a secondary low point. Therefore, what needs attention now is that if the lower timeframes cannot sustain the decline, it is very likely that a trap trading move will occur. So what needs to be waited for is the market after the bottom has gone through consolidation and adjustment.
Figure 2: At this time, on the 4-hour timeframe, the MACD has reached the zero line. What you should watch is whether the 4-hour timeframe can form an effective rebound. If, at this time, the market continues to start declining again, then the key support area is 70291. You can continue to observe the consolidation on the lower timeframes.
Figure 3: At this time, the market is at position 1. It is currently in a pullback-rebound on the 30-minute timeframe, because it has been influenced by support from the 4–6 hour timeframe. What to watch is that the 30-minute timeframe cannot keep falling. The market will continue to rebound and complete the range-bound consolidation. Since there are dense zones on the left, there will also be dense zones on the right for the oscillation. That means what we need to wait for later is the market turning point after the ➡ zone forms a consolidation area. Summary: At this time, when chasing short positions, be sure to control risk; and also, for long positions, place the stop-loss for the rebound at 70230 to target the hourly timeframe range, 71785#比特币 # Ethereum