$BTC Evening Perspective:
I don't see Bitcoin wanting to go up much; since it doesn't want to go up, let's come down! The scenery below is quite nice. Geopolitical conflicts have little impact on Bitcoin now; last night, even after a counterattack, Bitcoin didn't fluctuate.
The first occurrence of anything has the greatest impact; after that, it becomes a habit. If geopolitical conflicts can’t affect Bitcoin, then why isn’t Bitcoin rebounding to repair its indicators? Moreover, Bitcoin was just a few hundred dollars away from breaking the key resistance level above yesterday but didn't attempt to break through. Is there a reason behind this?
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Speaking with charts: Ever since the U.S.-China trade war ended, Bitcoin has loved to follow patterns. Currently, on the hourly level, Bitcoin is forming a bearish flag pattern. I don't know if you all remember what I said before:
There are two types of flags: an upward-opening flag is a bearish flag, while a downward-opening flag is a bullish flag.
Look at the flag in the chart; is it opening upwards or downwards? Don't get confused. If the lower boundary of the flag in the chart is broken, it will start a retracement mode; if it doesn't break the lower boundary, it will continue to oscillate within this flag. Only a breakout above the upper boundary of the flag can resolve this bearish flag.
If Bitcoin breaks above 105088 with volume, then chase long positions on the right side; if it breaks down through 104872 with volume and can't recover, then chase short positions on the right side. Pay attention to changes in volume and set stop losses.
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If Bitcoin can stabilize above 105245 on the hourly level, look up to 105926-106555, but currently, it seems a bit difficult for Bitcoin to move up.
If the 4-hour closing price of Bitcoin stays below 104612, watch for target positions below at 103701-103017; if 103701 holds, there might still be room for negotiation.
Continuing with the chart: On the daily level, Bitcoin tested the ema50 daily moving average for support and rebounded upwards, but when it rebounded to the ema20 daily moving average, it faced resistance and fell back. If it tests the ema50 daily moving average again and can’t hold it and breaks down, from the perspective of moving averages, the strongest support would be around the ema200 daily moving average at 92804.
The prices corresponding to the moving averages will change, so keep an eye on them. If the ema moving averages on the daily level show a downward divergence, then it's basically doomed. A significant drop is on the way, so everyone should be prepared. Meeting adjourned.