After reaching a high of 97840 on Friday night, the large pancake encountered significant selling pressure, and the bulls tried to break through unsuccessfully, causing the price to retreat under pressure.
During the weekend, market trading activity decreased, compounded by the impact of macro data, resulting in the continuation of a downward oscillation in currency prices and a rise in market wait-and-see sentiment.
In yesterday's Asian session, $BTC
Effectively breaking below the key support level of 95500, disrupting the short-term sideways pattern.
The technical indicators are showing bearish signals: the 5-day and 10-day moving averages formed a dead cross, the MACD indicator's dual lines fell below the zero axis, and the green momentum bars continued to expand, leading to a shift in operational strategy to bearish.
Although there was a rebound to 95708 overnight, the trading volume did not increase in tandem, and the divergence between volume and price indicates insufficient momentum from the bulls, further strengthening the bears' control.
Early this morning, the bears exerted pressure again, causing the currency price to drop to 94503, refreshing the recent low.
In the future market, it is crucial to focus on the 4-hour level support range of 93800-93500: if this area stabilizes, it may trigger a technical rebound, while the upper resistance levels to watch are 95000 and 95500;
If effectively broken below, the downward space will open up, with 92000 and 90000 round numbers possibly becoming subsequent support references, and short-term correction pressure is likely to intensify.
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As the market continues to evolve, we must closely monitor market signals and seize new entry opportunities. Like + comment 9696, and let’s navigate the bull market together and seize this significant opportunity!