Pancake Weekly Level: The price opened low and rose high, basically confirming that the current weekly line is in a fluctuating range. This week and around mid-December, the monthly market will continue to fluctuate widely in this area, so the overall weekly strategy revolves around high selling and low buying in the range.
Daily Level: From the K-line perspective, the price has successfully broken through the downward trend line and formed a W-bottom structure. Yesterday, the K-line closed with a medium bullish line, covering the previous bearish line and forming a bullish engulfing pattern. Today, there is a high probability of continued upward movement during the day.
Bollinger Bands: The price was previously suppressed by the middle Bollinger band, and it has now successfully broken through the downward channel of the middle Bollinger band. The bottom formation is initially established, and there is still a bullish outlook for the day.
Structure: The current structure is in a descending flag consolidation. According to the 1:1 proportional upward range, the current short-term resistance high point is around:
96500, so bullish for the day, while the trend can still be bearish.
The trend resistance resonates with the Bollinger upper band resistance.
4-hour Level: The Vegas channel provides a daily resistance for the price of $BTC #加密市场观察
