Today, Bitcoin (BTC) continues to exhibit a downward oscillation pattern. During the midday session, it effectively broke below the lower boundary of the short-term downward channel, rebounding at the key support level of 114200. The current price is operating within a converging triangle range formed by strong support at the bottom and the upper boundary of the downward channel above, with trading volume continuously shrinking, indicating typical oscillating convergence characteristics in the technical pattern. Based on the current candlestick combination and the bearish arrangement of the moving average system, the short-term bearish trend remains unchanged.

Trade strategy suggestion:

When the price rebounds to the resistance range of 115500-116000, if there are signals of upward long shadows, volume-price divergence, and other signs of stagnation, a light position short can be established. The stop-loss should be strictly set above 116500 to control the risk of drawdown; the first target is set at the support level of 113000, and if this level is effectively broken, consider moving the take-profit level down to the integer level of 110000. It is necessary to closely monitor sudden changes in market news and adjust position management strategies in a timely manner. $BTC $ETH #香港稳定币新规 #币安Alpha上新 #加密市场反弹