G M ☀️$BTC Price trend analysis and buy and sell point analysis (end of the article): Bitcoin prices fluctuate at high levels, with multiple long upper shadows, indicating heavy selling pressure from above.
- In the daily candlestick chart, the market closed negative for several consecutive days, indicating that the market sentiment is bearish.
2. Technical indicators:
- MACD: The 4-hour MACD bar chart turned from positive to negative, and both DIF and DEA diverged downward, indicating that there is a possibility of further correction in the short term.
- RSI: The current RSI value is 41.6, which is in a neutral and weak area. It has not entered the oversold area, but shows a certain downward pressure.
- EMA: The price fell below EMA7 (96991.5) and approached EMA30 (98065.9). If it continues to fall, EMA120 (100164.0) will become an important support.
3. Trading volume:
- The trading volume has increased recently, especially when the price falls, showing signs of capital outflow.
- Near key points, the volume increases, indicating that market participants pay more attention to these positions.
[Buy and sell points]
- Buy point 1: 95000 USDT (close to the previous band low, the integer level may form support)
- Buy point 2: 94000 USDT (further down to a stronger support area, close to an important integer)
- Long stop loss point: 93500 USDT (key support level after breaking through buy point 2, to prevent the risk of a deep correction)
- Sell point 1: 98000 USDT (close to the EMA30 moving average position, which may form short-term pressure)
- Sell point 2: 99000 USDT (stronger resistance range above, close to the recent high)
- Short stop loss point: 99500 USDT (after breaking through sell point 2, avoid losses caused by trend reversal)
