BlockBeats reports that on August 25, according to BiyaPay analysts, Bitcoin has retreated after fluctuating at a high level, with news-driven rises difficult to sustain, and the market has returned to being technically dominated. The weekly and daily lines show a series of bearish candles, with prices continuing to be under pressure below the moving averages, and the indicators are operating with a death cross. Analysts warn to be cautious of false bullish signals; the rebound is merely a technical correction during a downward trend.
The daily line closed with a small bearish candle yesterday, continuing the series of downward declines. The price is under pressure below the moving averages, and the indicators continue to show a death cross, with the bearish pattern unchanged. The hourly chart shows a slight rebound to around 113700 after dipping in the early morning, but it has weakened again. Currently, there is a series of bearish declines, and the indicators show another death cross. In the short term, further downward space is expected, but blindly chasing shorts is not advisable.
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