$BTC Daily line: KDJ bottom inflection while K-line is at the bottom of the range oscillation moving upward. Additionally, MACD golden cross has consistently had the fast line DIF oscillate back and forth and golden cross again. Currently, it is near a death cross at the zero line, but the DIF is in an upward shape.
From this combination of indicators and K-line, it can be seen that if the market wants to collapse, the K-line must penetrate the lower Bollinger Band and the low point of December 1st at 83800 and hold above it. The market has not done this. Moreover, the KDJ bottom inflection K-line is in a range oscillation without downward pressure, and MACD is actually overall approaching the zero line. Volatility has released bearish energy for two consecutive days, indicating that the entire market is on the verge of rebounding upward.
However, it must be noted that MACD is still below the zero line. To have a chance to break through the zero line, a major upward trend could form, but currently, there is none. So the current daily line is bullish, and 94500 is the point to be broken, which is the pressure from the K-line and the upper Bollinger Band. As long as this point is broken and held, MACD will have the opportunity to break through the zero point and have a chance to form an upward trend again.
We will take it step by step; for now, we are still watching whether the point of 94500 can break. As for the current pressure at the middle Bollinger Band at 90000, it is a confirmed point.
We are now focusing on 94500. If it breaks and holds, the bottom range oscillation will come to an end, and the market will enter an upward trend. We will wait and see.
