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6.6 Friday Bitcoin morning market analysis
In the market fluctuations of the early morning, the price of Bitcoin dropped from around $103,000 to the $101,000 range. This price movement was influenced by the feud between Trump and Musk, leading to a general weakening of the cryptocurrency market.
Judging by Bitcoin's four-hour chart structure, the black candlestick has crossed the lower Bollinger Bands and entered the oversold zone. The price fell sharply, the bearish momentum was consumed too quickly, the bottom yin body was longer, and the lower shadow was elongated, indicating that the market had strong buying support at the low level. Although it is still in the lower band of the range, the trend of correction is already more obvious. On the one-hour chart, the price rebounded after hitting near $101,000, with the bulls actively protecting the market, and after the bullish candlestick pulled up, the market formed a star pattern. Although the MACD indicator is still negative, there are signs of shrinking.
Operation suggestions
Bitcoin can be bought in the range of 101500-100500, aiming for around 103000 dollars, and then looking at 105000.
