⭐ BTC Today's Market Update

Bitcoin, dragged down again last night by a sharp decline in the US stock market, tested around 60k, but quickly rebounded above 61,000 this morning, showing that the support at the 60k level still exists. However, market sentiment remains cautious, with expectations of rate hikes increasing after the non-farm payroll data exceeded expectations, and macroeconomic pressures persist. On the daily chart, BTC is currently in a flag pattern, with the 60k level below being a key support tested multiple times recently. Yesterday, a bearish candle with a lower shadow was formed, indicating buying interest at lower levels, but no effective breakout occurred. However, it did recover above 60k, and overall, it remains in a weak oscillation pattern. Trying to force a breakthrough, a consistent decline could see it drop to 48,000. Currently, based on structural predictions, we have always said that 60k must be broken, and the target has now been reached. Spot trading has begun to enter in batches, and the next step depends on the market's performance.

Looking at the 4-hour chart, the price is facing trendline resistance around 61.5k. The MACD shows signs of a potential bullish crossover, but volume has not yet significantly increased, indicating a weak rebound. Short-term resistance is at 62,500-62,800. If broken, it could test the 63,800-64,200 zone. If the 60,000 support is lost again, it may accelerate downward to the 58,000-58,500 range, where previous trading was dense.
Resistance above: 61,500-62,000, with a breakout targeting 62,800
Support below: 60,000-59,300
Today’s outlook: Overall sideways with short-term support, continue to go long on dips. $BTC