5.7 Morning Thoughts
From the daily chart perspective, the candlestick has been closing with small bullish candles for several days. The mid-term moving average (Bollinger Bands middle line) provides solid support. The bearish forces have struggled to exert continuous pressure when testing the lower price levels, which fully reflects the strong buying power below, with solid support.
Switching the perspective to the 4-hour level, the Bollinger Bands are continuously narrowing, and the market's volatility is gradually decreasing. The current price fluctuation range stabilizes between 93000 and 96500. If the price cannot effectively break through the upper or lower bounds of this range in the short term, the market is expected to continue its existing range-bound pattern, with both bulls and bears continuing to contest within this price band.
Bitcoin trading strategy: Short near 97200-98000, hoping for a position near 95000.
From the daily chart perspective, the candlestick has been closing with small bullish candles for several days. The mid-term moving average (Bollinger Bands middle line) provides solid support. The bearish forces have struggled to exert continuous pressure when testing the lower price levels, which fully reflects the strong buying power below, with solid support.
Switching the perspective to the 4-hour level, the Bollinger Bands are continuously narrowing, and the market's volatility is gradually decreasing. The current price fluctuation range stabilizes between 93000 and 96500. If the price cannot effectively break through the upper or lower bounds of this range in the short term, the market is expected to continue its existing range-bound pattern, with both bulls and bears continuing to contest within this price band.
Bitcoin trading strategy: Short near 97200-98000, hoping for a position near 95000.
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