Bitcoin Short-term Analysis

Entry: 1728—1735 for a bounce
Target Range: Target (1) 1700—1680 (initially reduce and take profits)
Target (2) 1680—1630 (after breaking the previous low, remaining space for speculation)
Stop-loss: 1760
II. Market Logic Interpretation
Market Structure: The trend surged to 1816.44 peak, then turned downward, with momentum exhausted, short-term trend shifting from strong to weak; during the rebound, it faced resistance at the middle Bollinger band, with continuous selling pressure above, and no ability to re-enter the previous high range.
Support and Substantial Power: The previous low at 1720.90 shows slight support, but only slows the decline, unable to reverse the short-term bounce pattern; technical indicators' signals are gradually amplifying, with the short-term bounce dominating the market.
Trading Strategy: Within the day, prioritize rebounds at resistance levels for a bounce, and consider the possibility of a pullback in the trend.
III. Market Risk Reminder
This decline is merely a phase correction after an upward move; the medium to long-term macro cycle remains bullish, but short-term bounce efforts must strictly set stop-losses to prevent a further breakout above the current point, which could lead to trapped losses. #ETH