Bitcoin analysis on the 1-hour chart shows that the price has rebounded since the low of 84408 early this morning and has increased significantly, currently stabilizing at the middle band of the Bollinger Bands. The subsequent trend indicates that bullish momentum is dominant in the short term, with MACD about to form a golden cross, and market sentiment slightly leaning towards bullish.
However, there is strong resistance at the upper band of the Bollinger Bands, and during the rebound, there are signs of decreasing volume. If it fails to effectively break through the upper resistance, the price may oscillate between the middle and upper bands in the evening, and there is even a possibility of breaking below the lower band to retest the lows.
In the past, we have experienced losses, but by promptly adjusting our strategy, we successfully turned losses into profits. Moving forward, we can patiently wait for opportunities, decisively act when facing strong pressure, and be prepared for counter-trading.
Trading suggestions:
Bitcoin reference range: 88300-88700, short on rallies, target around 85000.
Ethereum reference range: 2960-2990, short on rallies, target around 2800.
Daily focus: PTB ARC LIGHT RESOLV F
