Crypto Circle Academician: A major divergence at 54,000 Bitcoin has appeared! Is it a bear trap or a bull market restart? Latest market analysis reference
The current price of Bitcoin is 96,200, and it is now 3:30 AM Beijing time. It is recommended that everyone pay more attention to the major Fibonacci level 0.618. The daily K-line has been consolidating here for more than a day, oscillating around this Fibonacci level. This position is the exchange point between bulls and bears, and also the main position contested by the main force. If it cannot hold this line, there will be a major bearish move. If it stabilizes, it will soar to great heights.
The daily K-line's highest is only 96,900, and the lowest is 95,800. In terms of the daily K-line, the space isn't very large, equivalent to consolidation. The EMA trend indicator is still expanding upwards and has not ended. The EMA15 trend fast line has reached 93,000, meaning the daily K-line will return to test the EMA15 trend line. Based on the current trend, it is expected to continue to stretch and will likely push to around 94,000 for support. The MACD shows a top divergence with increasing downward volume, while the K-line shows an upward divergence. The DIF and DEA are contracting at high levels, indicating there is downward momentum, and the Bollinger Bands are expanding upwards, with the upper band reaching 100,650 and the middle band focusing on 91,000. Overall, the bullish space appears limited, while the bearish space is larger.
The four-hour K-line has been in an upward trend. After the K-line tested the EA30 support at 95,650, it has struggled to drop further. The short-term indicators show effective support at this position. The MACD continues to reduce volume and accumulate positions, increasing bearish momentum. The DIF and DEA have formed a death cross. This indicates that there is a probability of further downward probing in the short term. The bulls must be strong, but do not rule out the possibility of a main force inducing a short. It is recommended to wait for a clear pattern at the Fibonacci level before considering long or short positions.
Short-term strategy reference: The market is not 100% certain, so always set stop losses. Safety first; the goal is to minimize losses while maximizing gains, especially if key resistance and support are broken, it is crucial to stop loss rather than hold onto losing positions.
For northward testing, entry points are 95,500 to 99,000, with a defense at 94,500, stop loss of 500 points, and a target of 96,500 to 97,000. If broken, look at 97,500.
For southward testing, entry points are 98,500 to 99,000, with a defense at 99,500, stop loss of 500 points, and a target of 97,000 to 96,500. If broken, look at 96,000.
Specific operations should be based on real-time market data. For more detailed information, please consult the author. There may be a delay in article publication, and it is recommended for reference only, with risks borne by the reader. $BTC
