Prices are dancing on the edge of a cliff; a single spark from the news can ignite the fuse of the bulls and bears' battle. Today is not a day for charging forward but a moment to test one's resolve.
Dear friends, today's BTC 1-hour candle makes people's hearts race. The price is oscillating around the critical line of 114,300 (clearly marked on the chart), like walking on a tightrope. The latest price is 114,483 USDT, sounds quite high? Don't rush, let me explain.
The Bollinger Bands have tightened into a 'thin line': the upper band at 115,734 is like a big lid, the lower band at 112,671 is like a last safety net, and the price is now hovering closely around the middle band at 114,400. What does this mean? — The market is confused! Both bulls and bears are waiting for the other side to make a mistake first. This kind of 'narrow fluctuation' is often the calm before the storm; once a big bearish or bullish candle breaks the window paper, the direction will emerge. Looking at the moment, the price is sticking below the middle band, and the sentiment is 'a bit timid'.
Moreover, the Federal Reserve's 'eagle claw' has reappeared: early in the morning, a Fed official came out to say, 'It's still early for rate cuts; inflation is still a problem.' Those in the know understand that delaying rate cuts = market liquidity expectations being doused with cold water. Bitcoin is increasingly correlated with traditional financial markets; this 'hawkish tone' is a big blow to risk assets (including cryptocurrencies).
How to operate today?
Watch more and act less; keep your hands steady: Don't easily 'catch the falling knife' before seeing 114,300 effectively reclaimed (holding at least 2-4 hourly candles). It's worse to catch halfway up the mountain than to be stuck at the peak!
Focus on key levels and indicators: 114,300 is today's critical 'life line' for bulls and bears! If it breaks, be cautious. When will the MACD fast and slow lines golden cross? Can the RSI rebound above 50? If these two indicators show positive changes, it won't be too late to consider adjusting strategies.
Beware of black swans and set stop losses: The Fed's hawkish stance and rumors of PlusToken dumping... these news could be validated or amplified at any moment. For those who have opened leveraged positions, the stop-loss line must be clearly drawn!
Dancing on the edge of a cliff, will it plunge into the abyss or make a graceful turn? The bull hasn't gone far, but it might be hiding in the next breakout candle... or in the pockets of those who patiently wait.
I am Brother Long, remember to follow me for in-depth analysis so you won't get lost!