BTC Technical Analysis:

Last night, the price rebounded to the key resistance level of 112 before being pressured down again. Although the daily line closed positively, it failed to effectively break through the resistance at 112. During the pullback, trading volume increased, indicating that bearish pressure still exists. Currently, the price is fluctuating around 110000 with reduced volume. If a strong bullish candle appears subsequently, it may signal a stabilization and rebound.

Short-term moving averages (MA7, MA14) are in a downward trend, indicating that the short-term trend remains bearish;

Medium-term moving averages (MA30, MA60) are gradually flattening, reflecting that the market has entered a phase of consolidation.

The MACD is in a death cross state, with green bars continuing to expand, indicating that bearish momentum has not yet fully released, and short-term adjustments may continue.

Key support is at 110000. If stabilization occurs alongside a narrowing MACD, a rebound may follow; if it fails to hold, a drop to the 105000–108000 range cannot be ruled out.

The 4-hour trend is weak; after a drop to 109000 this morning, it rebounded but is currently facing resistance again in the upper pressure zone.

Intraday trading suggestions: Consider short positions near the resistance range of 112500–113500, and watch for support in the 110000–109000 area.

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