Qin Feng's Midday Thoughts

From a technical perspective, the four-hour level shows that the price is under pressure and has pulled back to the middle track, but has not effectively broken through and continued the downtrend, nor does it show a strong downward trend. Moreover, after the sharp decline, there is a need for correction, so it is not advisable to chase shorts in the short cycle. The one-hour level shows a transition from consecutive bearish candles to bullish, and the bearish volume has not continuously pushed the price down. The moving averages need to converge and correct, with signs of a short-term bottom recovery.

Personal suggestion: Buy near 114800-115400, target around 115800-116000 #btc