MACD Death Cross! $BTC Sentenced to Death!
Today's BTC one-hour candlestick chart makes me a bit nervous, with prices fluctuating around 105025, alternating between red and green, making it hard to focus. The overall candlestick is below the moving averages, clearly showing a weak bearish control.
MACD shows DIF at 104.6 barely holding on, but DEA at -110.3 is quite disappointing, with the histogram at 11.3 not lifting the sentiment; KDJ is interesting here, with K at 20.91 and J at -3.89 indicating pure oversold signals, and D at 33.32 is low enough to make one feel a short-term bounce is due.
I think the market is currently in a short-term mixed battle between bulls and bears, with a heavy bearish atmosphere in the overall direction, but serious overselling could trigger a small rebound, like testing the 106k support.
However, without major positive news, the rebound will be limited and the risks are high. We really need to trade carefully and not act impulsively, keeping light positions for observation or trying to catch a rebound from overselling while ensuring we have stop-loss measures in place.
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