As we mentioned last week, BTC is currently oscillating between the resistance of the M head and shoulders neckline and the support range of the daily K-line MA180. Although there is sufficient momentum, due to the support of the daily K-line MA180, a sharp downward movement is difficult to occur in the short term.
After 5 days of consolidation, the MA5, 10, and 30 on the 4-hour chart have started to intertwine, mainly due to the downward pressure from MA180 and MA250. Attention should be paid to potential inducement fluctuations that may occur in the short term.
