$BTC Bottom Foundation Situation:
The 30-minute indicators show that support is at 118500-119000. Currently, the 30-minute indicators have not formed a stop-loss reversal signal, so we need to wait for the bottom foundation situation.
The 1-hour Bollinger Band lower track support is at 118500, and the indicator analysis suggests a probability of stopping the decline to rise.
The 4-hour support is at the Bollinger Band middle track 118200. Pay attention to the changes between the indicators, as there is a chance for a stop-loss reversal.
Summary: In such market conditions, with strong support in place, short positions should not be taken. As for long positions, we should wait for the bottom foundation situation. Once the 15-minute indicators align with the 30-minute indicators and the analysis shows bullish signals, we can enter long positions.
On the daily chart, compared to the 714k line top hammer candle, the previous situation indicated the exhaustion of bullish energy, while this time it indicates the exhaustion of bearish energy. Additionally, the MACD is in the budding stage of a golden cross above the zero line, and combined with the weekly indicators, the overall trend appears bullish. As for the possibility of a trend reversal leading to a downward trend, there is currently no sign of that.
However, the current bottom foundation situation is very important. Keep an eye on the short-term indicators, as the BTC price is at a high level. It's not the rise that we fear, but the potential for a trend reversal that could lead to a crash. Usually, everyone jokes around and it seems trivial, but now we must not be careless.
