Recently, the price of Bitcoin has completed a landmark V-shaped reversal pattern near the level of $93,300 and then rapidly rebounded to the $94,400 mark with strong momentum. This price movement not only verifies the strong support characteristics of this price range but also sends out a clear signal confirming the short-term bottom.
From the perspective of technical analysis, in the 1-hour K-line chart, the price has successfully broken through the neckline of the V-shaped reversal at $94,400. If it can continue to hold steady above this key level in the future, the market is expected to continue its upward trend and further challenge the important resistance levels within the range of $95,300 - $95,800. This area superimposes the dual resistance formed by the pressure of the middle band of the Bollinger Bands and the previous high.
The MACD indicator histogram has successfully turned red after continuously shrinking in volume, indicating that the momentum dominated by the bears is rapidly decaying, and the bullish forces are starting to take the leading position. The KDJ indicator has rebounded strongly from the oversold area, and the selling pressure from the bears has been effectively released. Considering the changes in both price patterns and technical indicators, the bullish trend in the current Bitcoin market is accelerating, and investors should pay close attention to the subsequent coordination between trading volume and price.
BTCUSDT
Buy-93800-94300
Tp:95000-96000
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