Currently, from the 4-hour candlestick structure, the Bitcoin price has fallen below the short-term moving average support, with the MA10 and MA30 moving averages forming a 'death cross' prototype. This pattern of the short-term moving average crossing below the long-term moving average is a typical bearish signal. If the subsequent candlestick closing price continues to be below the key level of 107200, it may trigger programmed trading sell-offs, exacerbating the downward momentum.
In terms of technical indicators, the MACD green bars continue to expand, with bearish momentum transitioning from a quantitative change to a qualitative change; although the KDJ indicator has retreated from the overbought zone, the J value still hovers above 70, indicating that the bulls are losing strength and the bears have the upper hand. It is worth noting that weekend market liquidity shrinks, and price fluctuations may be amplified, so caution is needed against 'false breakout' traps during the range oscillation.
Considering the current trend, the range of 107700-107200 can be seen as a short-term resistance zone. It is recommended to adopt a short-selling strategy on rallies: if the price rebounds to around 107500, a light position can be established, targeting the support zone of 106500-106000.
