8.4 Morning Analysis
Recently, Bitcoin has been in a continuous state of fluctuating downwards, currently showing significant fluctuations around 114,500, with the market power being contested here. The K-line shows a weak trend, consistent with the overall indicator analysis.
In the short term, the overall trend remains bearish, but the bearish momentum is gradually weakening. The 'black three soldiers' formation in the K-line and the indicator signals point towards a continuation of the weak fluctuating trend 📉 in the short term, while not ruling out the possibility of a slight rebound. Both RSI and MACD indicate insufficient market momentum, making the weak fluctuating pattern evident.
Suggestion
Bitcoin: Therefore, aggressive traders may consider entering around 114,600-115,700.
Target: On the downside, pay attention to the support level around 112,000.