BTC Technical Analysis: Ordinary People Can Understand

1. Daily Situation: The daily line of BTC looks a bit like a bullish doji star. What does this mean? It indicates that the recent short-term price fluctuations are becoming smaller. You see, in the past two days, the price lows have been around the same level, resembling a flat bottom, suggesting that it feels like it's building momentum or consolidating.

2. Pattern Trend: From an overall pattern perspective, it has formed a triangle. It's still early for this triangle to reach its end, so in the short term, the price is likely to oscillate back and forth within this triangular formation.

3. Volume Performance: The volume over the past three days has not yet reached the standard where a decrease in volume would trigger a trend change. This is like a battle; to decide which direction to charge, there needs to be enough troops (volume) to support it. Without a significant increase in volume, it's likely that the price will continue to adjust according to this triangular formation in the short term.

4. 4-Hour Chart Situation: In the 4-hour chart, the current price is either near areas where chips are concentrated at different stages or below it. It's clear that it's consolidating sideways, with little price fluctuation.

5. Descending Channel Competition: The BTC price is within a descending channel, fiercely competing around the middle track of the channel, with both bulls and bears fighting hard, entering a heated phase. This middle track is crucial, acting like a line that splits the short-term trend into bullish and bearish sides, serving as a dividing line between bulls and bears.

6. Key Position Explanation:

- The upper track of the descending channel is a resistance level; if you want to short, you can refer to this position.

- The middle track mentioned earlier is the dividing line between bulls and bears.

- The lower track is a support level; if you want to go long, you can refer to this area. Moreover, the lower track is roughly at the same level as the long-term EMA moving average, forming a double support, making the support stronger.

7. Summary: From a short-term perspective, neither the bulls nor the bears have an absolute advantage, so the short-term price movement is mainly oscillating within a certain range. From the perspective of swing trading:

- If you previously shorted and still have a position now, you can hold onto it.

- If the price reaches a low point where multiple support levels coincide and resonate, it would be suitable to quietly set up a long position. $BTC