Take a look at the recent market details; it's still quite interesting.

BTC broke below the four-hour EMA30 directly in the early hours of the 19th, starting to face resistance around 94,800. Then, two bearish candles dropped over 3,000 points. When attempting a rebound near the four-hour EMA144, it was unfortunate that the price only recovered to about 93,500 before being pushed down again. Subsequently, it broke through EMA120 and EMA144, with the 92,500 level dropping even more, losing up to 5,000 points.

Looking closely at this decline, the daily EMA first stalled the upward momentum around 97,500. Later, the two main sell-off points showed a clear pattern—corresponding respectively to the four-hour EMA30 and EMA144. Interestingly, the 94,800 level of the four-hour EMA30 is also a key point for the one-hour EMA120 and EMA144, indicating a multi-timeframe resonance.

I want to emphasize two core logics here: one is how important multi-timeframe confluence is for market judgment, and the other is that the larger the cycle, the higher its weight—this should never be overlooked. Many people only focus on small cycles, which causes them to be unable to hold during a one-sided trend or to be shaken out during major cycle shakeouts.

For short-term trading, do whatever feels comfortable—either catch the rebound for a quick trade or wait patiently for the bottom to pick up the dead coins.