#BTC Short-Term Trend Analysis and Trading Strategy Market Review:
#BTC Recent trends have been as expected, experiencing significant selling pressure after reaching a high near 107,000, causing the price to quickly retreat, confirming the strength of the resistance level above.
From a technical perspective, after being blocked at a high price, a descending wedge pattern has formed, which is a typical bullish signal and provides the possibility for a short-term rebound.
Technical Analysis: Descending Wedge: Currently, BTC is trading around 103,450, at the lower support level of the descending wedge. A descending wedge typically indicates a price breakout upward, especially during the consolidation phase after high selling pressure, making a short-term rebound more likely.
Key Resistance and Support:
Resistance Level: 107,000 (short-term high), if broken, can further target 110,000.
Support Level: 102,500, if it breaks down, it may test the psychological level of 100,000.
Volume: Recently, during the decline, trading volume has gradually shrunk, indicating weakening selling pressure, with buying potentially accumulating strength at lower levels.
Indicator Signals: RSI is in a neutral zone (around 45), not oversold, MACD fast and slow lines are close to a golden cross, short-term momentum leans towards bulls.
Trading Strategy: Open Long at Current Price: Lightly open long near 103,450,
Target looking at 106,000-107,000,
Stop loss set below 102,000,
Risk Control Advice: Strictly control position size (suggested not exceeding 2-3% of total capital), be cautious of sudden volatility.
Operation Rhythm: If the price breaks through the upper trendline of the wedge (around 104,500), you can add to your position; if it breaks below 102,500, timely stop loss and observe.
Summary:
BTC is stabilizing near the support of the descending wedge in the short term, the pattern is bullish, current price 103,450 can take a light position to bet on a rebound, target 106,000-107,000. Move quickly, but be sure to manage risk and operate steadily!
