5.8 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference

During the day, Bitcoin's morning price faced resistance in the upward movement, and the market remains tense between bulls and bears. The upward momentum of the bulls is weakening, and the market slightly retraced in the afternoon to test short-term support, touching around 85700 at low levels. Overall, the situation maintains a range-bound trading within the day, and Mr. Coin suggests operating by selling high and buying low, avoiding excessive greed and being mindful to seize profits in a timely manner.

From the short-term 1-hour chart, the Bollinger Bands are slowly opening downward, and the market rebounded after testing the 85700 level. The current price fluctuates around 86000. From the daily chart, the overall market is in a wide range of oscillation. If the price continues to rise and breaks through the previous high resistance zone, the market is expected to further explore upward. Conversely, if it cannot break through this zone, there is a high chance that the market will retrace and test the lower support again.

Looking at the 4-hour chart, a death cross has appeared on the 4-hour MACD. RSI: The 4-hour RSI hovers around 50, not entering overbought or oversold territory. EMA: The price fluctuates near the 4-hour EMA7 (96252.97), with strong support from EMA30 (95587.31) and EMA120 (92851.59). There is a possibility of testing EMA30 during the day, indicating that if there are no significant news impacts in the short term, the market is expected to maintain a wide oscillation trend. The operation suggestion is to sell high and buy low. The upper resistance to focus on is 97500, followed by the next level down; the lower support to focus on is around 94500, and then the daily Bollinger middle axis at 93700.

5.8 Bitcoin Short-term Reference:

Light short positions at 97500-98500, stop-loss at 99500, target: below 96500,

Long positions at 94000-95000, stop-loss 500, target above 95800,

5.8 Ethereum Short-term Reference:

Short positions: 1845-1885, stop-loss at 1970, target: below 1780,

Long positions: 1740-1780, stop-loss 30 points, target above 1810,

The article is sent with a delay, and strategy suggestions are for reference only. The market changes rapidly; regardless of how confident one is in market judgment, it is essential to have take-profit and stop-loss measures in place. Secure your profits.