BTC market analysis

Take a look at today's market analysis. First, let's take a look at yesterday BTC daily close. Yesterday's close was a white candle, and the upper and lower leads of this K-line are basically the same length, indicating that the market is choosing the direction and has not yet formed a clear trend. Next, let's look at the 4-hour chart. Yesterday it was mentioned that it is necessary to pay attention to the volume distribution chart of a specific area, where the non-L1 line is located. Yesterday's market broke through this position, but failed to gain a foothold, which is a false breakout. After that, a K-line was closed, and the upper lead was longer, which was a good short point.

Let's take a look at the 1-hour chart. Yesterday highlighted the lows and highs that need to be watched. The market first held its lows, but then a black candle appeared and then fell back. After that, the market fell to another low, rebounded, and closed a K-line with a long upper lead, which is an obvious short opportunity. Yesterday we went short here, the first guidance was at 41,000 and the second guidance was the low ahead. At present, the market has not yet reached, and it is necessary to pay attention to whether the previous low is broken.

It was mentioned yesterday that if it falls again and falls below the lows, you need to pay attention to the follow-up market. If there is a rebound and a trend of higher lows and higher highs is formed, you can consider going long. Otherwise, if the low is broken, the market may fill the white space below, and pay special attention to the 38,600 level, which is a good long single point.

In addition, it is important to pay attention to the time factor, and BlackRock's ETF spot application may be approved in January next year, which is good news. The market may rush higher during this period, but from a technical point of view, there is a blank area below the 38,600 level, and the market may pull back. Fundamental analysis also points to a possible pullback during this period, so it needs to be watched with caution.

Overall, the market may experience volatility around January next year due to factors such as BlackRock's ETF application and BTC halving next year. After the ETF news is announced, the market may rush higher, but it is recommended not to be greedy and consider shipping at the high point. BTC halving is often preceded by a sharp pullback, and re-entering the market after a pullback may be a better option. This is an analysis of today's BTC market.