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The current crypto market is in extreme fear, with the U.S. dollar index remaining high, U.S. bond yields rising, and increasing pressure on risk assets.

In the early morning, BTC briefly dipped below 58,000, with the monthly candle closing as a large bearish candle. The daily level shows a bearish arrangement, but bearish volume is shrinking.

The 4-hour level continues to oscillate and hover at low levels. The current technical indicators MACD and KDJ are beginning to turn upward, indicating a short-term rebound demand.

The 1-hour level shows a golden cross of MACD and KDJ moving upward. There is still room for short-term rebound, and the intraday approach is to go long on dips.

Entry opportunity: go long near 57,700, target 59,500-60,500.
USIDX-0.08%
BTC0.89%
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