Today's sharing:

Yesterday, Bitcoin quickly dropped to 57800 in the early morning, triggering a rapid rebound. This morning, it surged violently to over 61300, with a very strong rebound. The current market is complex and volatile. So how to analyze the current market? Share my personal views.
First, from the perspective of looking at the larger timeframe to trade the smaller one, the monthly level is definitely in a downtrend, far from the bottom. At the 4-hour level, it has just broken through the rectangular consolidation range weakly. I personally think there is a possibility of a fake breakout. The major resistance levels above are 62700 and 63000. So now we need to patiently observe whether it can stably stay above 61000. If not, this will be considered a fake breakout, and later it can still fall to around 58000 at the lower edge of the rectangle. Currently, it seems to have broken the descending trend line, but based on the recent trading habits of major players, long-short switching is very frequent, with various fake breakouts and fake breakdowns frequently occurring. So we need to adapt to this rhythm, not be too ambitious in holding positions, and trade quickly in and out to cope with this rapidly changing market.
Trading suggestion: Short at 61300 and 61500, targets at 60000 and 59800, stop loss at 62100;
For long positions, only go long at the lower edge of the rectangle at 57500 and 58000, use a trailing stop profit method for the target, and set the stop loss at 500 points.