How to interpret this point? Is it really not going down anymore? It feels like it will continue to short.

【$BTC Signal】1H level rebound trading, pullback to buy and target previous high

$BTC The 1H level is oscillating narrowly between 68000-69000, with the price testing the 1H EMA20 (68818) resistance. The 4H level remains in a downtrend channel, but the 1H RSI (39.89) has rebounded from oversold territory, and the latest 1-hour candlestick shows buy volume at 52%, indicating short-term selling pressure is weakening and a technical rebound is likely. Open interest remains stable, and negative funding rates suggest bears are dominant, but the price has not broken further downward, so watch out for short covering.

🎯 Direction: Long (buy on pullback)

🎯 Entry/Order: 68500 - 68700 (Reason: retesting the 1H EMA20 support zone, which is also a recent minor consolidation center)

🛑 Stop-loss: 67900 (Reason: breaking below the previous low of 68030 and the 4H candlestick low confirms the downtrend continuation)

🚀 Target 1: 69500 (Reason: previous high resistance on the 4H level and near EMA50 (69527))

🚀 Target 2: 70300 (Reason: previous high on the 1H level and the rebound high on February 15)

🛡 Trading management:

- Position size suggestion: Light position (Reason: 4H trend is still bearish; this is a rebound against the small trend, large trend, high risk)

- Execution strategy: After reaching Target 1, move the stop-loss up to the entry point (break-even). Hold remaining position towards Target 2. If the price cannot stay above the 1H EMA20 or rebound is weak, consider reducing the position early.

Deep logic: Market depth shows concentrated buy orders around 68320 (about 4.67 BTC), forming short-term support. A potential bullish divergence appears with new lows in price but no new lows in RSI at the 1H level. Market logic indicates “price drops, open interest stable,” which is not main force distribution but more passive reduction of longs. If the price can volume-break above 69000 (1H EMA50), it will confirm a short-term bottom and attract long positions.

Trade here 👇 $BTC

---

Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#我在Gate广场过新年 #Gate广场发帖领五万美金红包