Evening posture Silk Road and suggestions

The Silk Road that is basically synchronized with Bitcoin—whether it can break 2500 tonight—otherwise there’s no short-term opportunity. Now, a W-bottom inside the flag pattern has appeared with a neckline at 2345. Only if the 2345 neckline breaks and a two-hour W-bottom is formed can it be confirmed, giving a chance for further upward rebound. Look up to the resistance zone of 2372-2415; only after breaking this resistance zone can we see the previous high of 2463 and a new high. The posture cannot stay within the flag pattern and break below it; otherwise, it will test the support at 2257 with a second retest. If it doesn’t break below 2257, it will move in a consolidation range between 2257-2345. If it breaks below 2257, look for a sign to stop falling at 2175! The bullish momentum of the posture is indeed a bit weak, and we may have to wait for the crucial 10 o’clock meeting.

A volume breakout above 2333 on the right side signals to go long; a volume breakdown below 2306 on the right side signals to go short. Pay attention to volume changes and set good stop-losses.
On the hourly chart, if it stabilizes above 2333, look up to 2372-2450.
On the 4-hour chart, if it breaks below 2302, look down to 2260-2200.

According to Fibonacci analysis on the 4-hour chart, the target for this wave’s 1:1 rally is around 2533, but two conditions must be met: first, the pullback must not break below the midline of the box at 2204; second, it must break above the upper boundary of the box at 2386 and the previous high to reach the Fibonacci 1:1 target. Both conditions are indispensable. The 2204 midline of the box is the bullish-bearish dividing line on the 4-hour chart; once broken, the downward space for the posture will open. As long as it doesn’t break below the midline, the bulls are still safe. The red arrow points to this yellow bullish trend line—better not to break it either; breaking it will likely lead to a retest at 2204.
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