TODAY'S CRYPTOCURRENCY MARKET CONTINUED ITS RECENT ACTIVE TREND. UNDER THE INFLUENCE OF MULTIPLE FACTORS, THE MARKET FLUCTUATED SIGNIFICANTLY, AND THE PERFORMANCE OF VARIOUS CRYPTOCURRENCIES AND SECTORS WAS DIFFERENTIATED.
BITCOIN PRICE IS CURRENTLY QUOTED AT $106,678, UP NEARLY 1% IN THE PAST 24 HOURS. PREVIOUSLY, BITCOIN SUCCESSFULLY REBOUNDED FROM THE DEMAND RANGE OF $104,000-105,000 AND NOW HAS RISEN ABOVE THE 0.5 FIBONACCI LEVEL ($105,514) AND IS CLOSE TO THE 0.382 FIBONACCI RETRACEMENT LEVEL ($106,706). A DAILY CLOSE ABOVE THIS AREA WILL STRENGTHEN THE SHORT-TERM BULLISH SENTIMENT. FROM THE 4-HOUR CHART, AFTER BITCOIN PRICE HELD THE DEMAND AREA OF $104,000, A BULLISH "CHARACTERISTIC CHANGE" (CHoCH) APPEARED, AND THE CONSOLIDATION STRUCTURE OF THE $104,000-106,000 RANGE WAS BROKEN. THE BOLLINGER BANDS WIDENED, AND THE PRICE BROKE THROUGH THE MIDLINE, APPROACHING THE UPPER TRACK OF AROUND $107,000, WHICH USUALLY INDICATES THAT PRICE FLUCTUATIONS ARE ABOUT TO EXPAND. THE KELTNER CHANNEL SHOWS THAT THE PRICE IS ABOVE ALL 4-HOUR EMAS (20, 50, 100, 200), CONFIRMING A STRONG BULLISH TREND, BUT THE $107,662-108,181 RANGE (THE UPPER TRACK OF THE KELTNER CHANNEL AND THE FIBONACCI RETRACEMENT LEVEL OF 0.236) IS STILL A POTENTIAL REVERSAL AREA.
