Are you still staying up late chasing more? How should we interpret the dip? Let’s discuss it together!

From the current 1-hour chart, BTC has begun a technical correction from the low of 60,755, continuously forming rebound bullish candles. There is short-term momentum to test the 62,500-63,000 range upward. This round of market movement is only a weak rebound within the downward channel and not a trend reversal.

On the technical level, this range is under multiple resonance pressures, adjacent to the middle band of the Bollinger Bands at 62,450, and also located in a dense trading zone formed during the previous decline. It corresponds to the 0.382 Fibonacci retracement level of the 63,499 to 60,755 decline wave, which is the core resistance area for this rebound. Currently, the KDJ indicator is rising from a low point and has not entered the overbought zone. Coupled with the four consecutive bullish candles in the recovery pattern, the price is likely to test this resistance zone upward.

It must be clarified that the overall bearish pattern has not changed. The Bollinger Bands are opening downward, and the middle band continues to decline, indicating the large-scale downtrend is still ongoing. After reaching the 62,500-63,000 range, if the price cannot break through with volume and stabilize effectively, it will face resistance and fall back, re-entering a correction trend.

Friends chasing dips or trapped should consider taking profits and reducing positions if the price rebounds to the 62,500-63,000 range. It’s not suitable to chase high with heavy positions. Only after stabilizing above 63,000 should you consider re-evaluating the market. Follow the trend in trading, control your position size, and pay attention to market sentiment and news risks.

Wishing everyone successful trading! Hope to see you break free and turn the tide soon! $BTC $GT $ETH #预测NBA总冠军赢20,000U