📣5/6 Bitcoin Evening Stable Profit Layout Sharing!

 Bitcoin's 4-hour chart Bollinger Bands are starting to converge. Yesterday it was under pressure at the upper band, falling into the middle-lower band range for consolidation. Currently, the support at the lower band and the neckline are starting to overlap. This position is also a key support level that will determine whether the market will rise or reverse back down. If it holds above the neckline and corrects, we continue to look bullish; conversely, if it breaks down, it will convert into a small-scale double top retracement.

 

 【Analysis of Bitcoin Price Trend from 4-Hour Chart】

 

 Candlestick Pattern:

 

 Recently, the price has been consolidating at high levels, forming multiple long upper and lower shadows, indicating significant divergence in market sentiment. The daily chart has shown consecutive bearish candles, suggesting strong selling pressure in the short term.

 

 Technical Indicators:

 

 MACD: The 4-hour MACD has remained in negative territory, and the fast and slow lines are diverging downwards, indicating a weak current trend.

 

 RSI: The RSI value is hovering around 40, not entering overbought or oversold territory, but is close to the oversold edge, necessitating attention to possible rebounds.

 

 EMA: The price has fallen below EMA7 and is gradually approaching EMA30. If it continues to decline, EMA120 will become an important support level.

 

 Trading Volume:

 

 Recently, trading volume has increased, especially during periods of significant price fluctuations, indicating heightened capital activity. On the daily chart, trading volume shows a trend of first increasing and then decreasing, suggesting a shift in market sentiment from optimistic to cautious.

 

 5/6 Evening Bitcoin Stable Profit Layout:

 

 It is recommended to enter long positions around 93500-93700 for Bitcoin, with target points: 94400-95000-95500.

 

 If there is a pullback, it is recommended to add to long positions at 92800, with the target points unchanged!

 

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