September 6th early morning BTC analysis
On the night of September 5th, Bitcoin showed a one-sided downward trend, later stabilizing at the 110286 point. This position is close to the previous support level of 110435, providing initial support for the price in the short term.
The key focus above is the critical level of 112000: firstly, this is the core consolidation area after the previous rebound; secondly, it is also the core dividing line in the current bull-bear struggle. If the price cannot consistently break through 112000, it is highly likely to enter a range-bound oscillation mode subsequently.
From an indicator perspective, the 5-day moving average has crossed below the 10-day moving average forming a 'death cross', a signal indicating that short-term bearish momentum is dominant; at the same time, the price continues to operate below the 5-day moving average (111500), and the short-term moving averages are showing a downward divergence pattern, further confirming the weak pattern. Only when the price breaks through 111500 can the current bearish pressure be effectively alleviated.
Operational Suggestions
When the price falls to around 110000, consider placing long orders, targeting the range towards 112000 and 113000.
