From the chart, it can be seen that the coin price was initially at a relatively high level, followed by a downward trend. It once reached 112937, and then continued to decline.

As the coin price drops, it is currently close to the lower bound on the hourly chart, indicating that the market bears are relatively strong in the short term, and the coin price is in a relatively low range. During the decline, the coin price spent most of the time between the middle and lower bounds, showing that the market is in a bearish dominant state. The current coin price is close to the lower bound, and if it cannot stabilize effectively and break upward through the middle bound, the bearish trend may continue; if it can break through the middle bound, it may signal a change in market trend.

Recently, the market has shown a clear downward trend. The 15-minute cycle shows that the coin price is close to the lower bound, with a possibility of further decline or a rebound in the short term; the 1-hour cycle shows that the market is bearish dominant, with the coin price fluctuating at low levels. Friends should pay close attention to the relationship between the coin price and the middle and lower bounds of the Bollinger Bands. If the coin price can effectively stabilize above the middle bound, it may signal a reversal of the bullish trend; if it continues to hover near or falls below the lower bound, the bears' strength may further increase. $BTC #加密市场回调