BTC's surge hits resistance, is a trend change approaching?
Everyone, have you felt the thrilling movement of BTC? It surged to a high of $123,218 yesterday, only to plummet to around $11,178, with a drop of over 1.4% and a fluctuation of nearly 1.7%. This intense volatility isn't it a blatant signal of a "bull-bear showdown"?
The MACD histogram's green bars have expanded to -639.66, with the DIF dead cross diving downwards, and bears are clearly seizing the wheel!
But wait, the KDJ indicator quietly hints at a turning point: the J value has squatted down to -3.3 in the oversold zone, the K line is also pressed at a low of 34.56, and the RSI1 has shrunk to a sensitive area of 35.16... Looking at it this way, isn't the rebound trigger about to be pulled?
The price position is also worth pondering! Right now, it's stuck tightly in the gap between the 7-day MA and the 30-day MA, with the middle track of the Bollinger Bands at 118,809 acting like a balancing beam on a tightrope.
This precarious situation, what is the main force calculating? Historical experience tells us: when the bull-bear indicators collectively "fight", a breakout is often just around the corner!
In my view: the short term may continue to oscillate, and the 30-day line at 117,546 is the lifeline for the bulls! If it can stand firmly with volume, the counterattack horn will be sounded immediately; if it breaks down, be careful of a waterfall-like plunge!
Currently, the market has experienced a wave of downward probing, and although the overall market is slightly sluggish now, opportunities will still come. Stay calm and wait for the pullback, and feel free to discuss future market views anytime.
