$BTC On the daily chart, around 64,000 it looks like it’s been holding as support, but it didn’t break out on high volume, so it isn’t very reliable. Today’s bearish candle has upper and lower wicks, but the lower wick is much longer than the upper wick, so you can treat it as a variant of a hammer pattern. Overall, the bulls are still dominant.

On the 4-hour chart, after reaching 65,500, it started to pull back, then rebounded to 65,000. Right now it’s still being suppressed by the resistance level here. Wait to see whether it can hold and suppress price—direction is likely to emerge around tomorrow noon.

On the 1-hour chart, you can see it was trading sideways for a while between 65,500 and 65,000, and then it suddenly dropped. Watch to see if, on the 1-hour chart, it can go back down to the starting point of the drop around 65,100. If it reaches there, it should still continue higher. If it can’t reach it, don’t rush to chase a short—just watch whether it can drop to 64,500.

It’s still best to wait for direction to become clear, then enter a trend position, because this area is basically the line separating long and short. Since the market might not be very clear here, everyone should wait for the price action to play out before entering—this way the potential profit is greater than the risk of loss.