Market conditions change rapidly. After experiencing fluctuations and adjustments in the early morning, Bitcoin has followed the trend downwards, which aligns with our expected downward test of support. After dropping to a low of 93445, it rebounded and is currently oscillating above 94500. The early morning short positions have taken profit and made no further contributions. The altcoin's movement is similar to Bitcoin's, having rebounded after a low of 1780, it rose to a high of 1820 before retreating, and is currently oscillating around 1810.
From an overall structural perspective, after the previous double-bottom test, a relatively strong bottom has been formed, with the 93000 level remaining solid. On the four-hour chart, after reaching a high of 97865, it has entered a phase of oscillating downward. Once it broke the 93500 point in the short term, it did not linger for long and quickly rebounded, indicating a strong counterattack. The importance of the 95000 level is self-evident; for Bitcoin to continue making progress, it must maintain stability above this level. In terms of technical indicators, the MACD is trending downwards, while the KDJ lines have turned upwards. The divergence in technical indicators makes it difficult for the market to sustain a trend. #美国稳定币法案
On the hourly chart, the price remains between the middle and lower bands. After a strong rebound in Bitcoin, the volume of altcoins has temporarily slowed down, reducing the downward pressure significantly. If the MACD reverses upwards, there will be good short-term space above, so the strategy should focus on the rebound before watching for further movement.
For future reference, Bitcoin's support is around 94800, with targets at 94000-93000; for the altcoin, reference is around 1830, with targets at 1800-1750.
