Zhiming Evening Silk Road Hit, the Kongtóu Smoothly Walks Out of the Kongjian
No need to be the sun, a streetlight can also illuminate the stumbling of a late-night returnee
7.30 Zhiming Evening Analysis and Recommendations
Looking back, Bitcoin's afternoon lowest point was around 117600, while the highest reached around 118500. The afternoon trend was basically a consolidation trend.
The 4-hour chart for Bitcoin has once again pulled back to the lower Bollinger Band, which still shows some support. Yesterday, the price rebounded to test the $120,000 level before coming under pressure and falling back, closing at a low, indicating a lack of strength to reclaim the previously breached high points. Currently, the trend has shifted to a high-level consolidation pattern, accompanied by a price space pullback and a change in market structure. Combined with the daily chart showing a high-low formation, it suggests that an adjustment phase is inevitable. In terms of technical indicators, the moving average system shows signs of a top divergence, indicating a significant need for adjustment. Given the large volatility of Bitcoin, its potential adjustment space may also be relatively considerable. Short-term trading strategy for the evening: focus on high positions, paying attention to the continuity of the trend. If the price breaks through key resistance, strategies need to be adjusted accordingly.
Zhiming's Recommendations
Bitcoin around 118600-119100 for selling, watch around 117500-117000
Ethereum around 3830-3860 for selling, watch around 3770-3730
#BNB创新高
Looking back, Bitcoin's afternoon lowest point was around 117600, while the highest reached around 118500. The afternoon trend was basically a consolidation trend.
The 4-hour chart for Bitcoin has once again pulled back to the lower Bollinger Band, which still shows some support. Yesterday, the price rebounded to test the $120,000 level before coming under pressure and falling back, closing at a low, indicating a lack of strength to reclaim the previously breached high points. Currently, the trend has shifted to a high-level consolidation pattern, accompanied by a price space pullback and a change in market structure. Combined with the daily chart showing a high-low formation, it suggests that an adjustment phase is inevitable. In terms of technical indicators, the moving average system shows signs of a top divergence, indicating a significant need for adjustment. Given the large volatility of Bitcoin, its potential adjustment space may also be relatively considerable. Short-term trading strategy for the evening: focus on high positions, paying attention to the continuity of the trend. If the price breaks through key resistance, strategies need to be adjusted accordingly.
Zhiming's Recommendations
Bitcoin around 118600-119100 for selling, watch around 117500-117000
Ethereum around 3830-3860 for selling, watch around 3770-3730
#BNB创新高
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
114,740.02
-3.29%
BNB
766.22
-4.78%