Bitcoin Short-Term Trend Analysis

Currently in a volatile downward channel, with the K-line below the MA7 moving average, and shrinking trading volume indicating insufficient market momentum.

The MACD shows early signs of a golden cross, suggesting a potential slight rebound, but downward pressure remains significant. If it continues to break below 105000 (the lower boundary of the downward channel), it could accelerate the decline; if it stabilizes at this support level, the rebound target looks towards 109000.

Recently, the amount of short positions being liquidated is significantly higher than that of long positions (approximately 100 million USD in short liquidations over 24 hours), reflecting cautious market sentiment, with profit-taking pressure existing after breaking previous highs.

Key Levels and Trading Strategy

Support Level: 105500 (Short-term Strength and Weakness Boundary)

Resistance Level: 108500-109000 (MA7 Moving Average and Previous High Area), breaking through could open up space to 112000.

Trading Suggestions:

Short-term: Lightly enter long positions around 105800, with a stop-loss at 105000 and a target of 109000.

Medium-term: Wait for volume to break through MA7 and stabilize before increasing positions, otherwise remain on the sidelines.

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