BTC Short-Term Trend Analysis

I. Trading Idea
Entry Level: Pull back to around 58,500 to go long on “哆”
Target Range:
First Take Profit: 58,900–59,100 (reduce first to take profit)
Second Take Profit: 59,400–59,800 (hold for the setup after breaking the short-term resistance level)
Defense (Stop Loss): 58,000
Market Logic
After the trend probed down to 57,800.19 and made a new low, it quickly closed a bullish candle to repair. The short-term oversold sell pressure has been fully released. After the price retested the lower Bollinger Band, it obtained buying support. The bears are currently unable to refresh new lows in the short term.
The current price has made a small rebound and is trading above the lower Bollinger Band, so there is a need for a short-term corrective rebound. There is short-term sell pressure around the 59,000 area, but it will not directly reverse the oversold recovery rhythm.
Trading Plan: Rely on low-level support and go long on the pullback “low do”; play the technical rebound after the sharp drop. Do not chase the entry. #BTC