#BTC $BTC
Candlestick Pattern:
- A long lower shadow appears on the daily chart, indicating strong buying support.
Technical Indicators:
- MACD: The hourly MACD is in the positive area, but the histogram is shortening, indicating that the upward momentum is weakening and may enter a correction phase.
- RSI: The hourly RSI is close to the overbought zone (53.71), but it has not reached extreme levels, still posing a risk of a pullback.
- EMA: The current price is slightly above EMA7 and EMA30, indicating a bullish short-term trend; EMA120 is far below the current price, and the long-term trend remains upward.
The 8-hour Bollinger Bands are fully contracted, suggesting that the market will continue to oscillate for the next 2 days.
The 4-hour signal source still supports a bullish outlook.
Support at 91000-92000
