$BTC Evening Viewpoint:
What happened to Bitcoin? It has been fluctuating since last night and hasn't stopped yet. Is it stuck here or has it wandered into a primitive forest and lost its way? Stuck, press fast forward, lost, calling for air support.
Now the fluctuations of Bitcoin have been compressed to the extreme, and the amplitude is getting smaller and smaller. I believe a direction will be determined soon.
Today's Bitcoin fluctuation is not as large as the weekend; if you don't look at the calendar, you might think today is the weekend?
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Speaking with pictures: The MACD fast line of Bitcoin on the daily level has already dropped below the zero axis. I hope the slow line does not drop below the zero axis. If both the fast and slow lines are below the zero axis, it means the bears dominate the market, and we can only short during rebounds.
Many students like to look at golden crosses and dead crosses; don't focus on this cross or that cross. Just look at whether the Bitcoin daily level is above or below the zero axis. If it's above the zero axis, the bulls are the main force, and you should mainly look for buying on pullbacks. If it's below the zero axis, it's as mentioned above.
The only way to bring the Bitcoin fast line back above the zero axis is to pull up the market; there's no other way.
If both the fast and slow lines of Bitcoin are below the zero axis, it won't immediately drop. It can also heavily sell off with a negative news event, and without negative news, it will break key support and crash.
If it pulls back, this is a daily-level pullback, so don't underestimate the power of a daily-level pullback.
The bearish engulfing pattern at the daily level pointed to by the yellow arrow will never rise better if it is not swallowed back.
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Bitcoin volume breakthrough at 104939, chase long on the right side; 104660 volume breaks down, a pullback cannot recover, short on the right side, manage your stop loss.
Bitcoin hourly breakthrough stabilizes at 105285, looking up at 106109-106843-107288; 102585 neckline not broken is always Bitcoin's resistance.
At the 4-hour level, breaking down from 104346 looks down at 103777-102637.
Continue to look at the picture: Bitcoin daily level has broken through the EMA20 daily moving average, and has touched the EMA50 daily moving average for support.
If Bitcoin cannot break through the EMA20 daily moving average in the near future, it indicates that the rebound is unusually weak. If it breaks down through the EMA50 daily moving average, the most effective support from the moving average perspective is the EMA200 daily moving average at 93445. Students, please pay attention to the gains and losses of the EMA50 daily moving average at the daily level, and observe the changes in trading volume. Meeting adjourned.
