Last night after the live broadcast in the egg yolk pie teaching group, a detailed analysis of BTC was conducted. From a technical perspective at this stage, BTC is merely a pullback after a wedge breakout.
There is a demand for the price to continue downward towards the lower part of the chart, the second level neckline range, and the lower boundary of the channel. It is advisable to attempt to enter long positions at this level, as there is a high probability of a rebound demand.
As mentioned during the live broadcast, the price indeed continues to move down to acquire demand, but after the current daily close, it has found support at the first level neckline range.
In the short term, it is still possible to layout long positions around the first to second level range and the lower edge of the channel, betting on rebound demand, until the daily close breaks below the lower boundary of the channel.
It is expected that the market will mainly fluctuate in the short term, with a low probability of breaking below the second level neckline range and the lower boundary of the channel within the week.
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