$BTC
1. Bollinger Bands Indicator:
The middle line (MB) represents the simple moving average (SMA) for a period of 20 candles.
The upper line (UP) and the lower line (DN) represent the upper and lower bounds based on the standard deviation.
The current price is close to the lower bound, indicating a possibility of selling pressure or approaching a support area.
2. Current Price:
The price is at $86,687.91 with a decrease of -7.13% over the last 24 hours.
There is clear selling pressure on the price.
3. Recommendation:
If there is strong support at this area (86,600), it may be an opportunity to buy after clear reversal signals appear (such as reversal candles or an increase in trading volume).
If the price breaks below the lower Bollinger Band and continues to drop, it is preferable to wait until signs of stabilization or new support appear.
Significant losses.