Hello everyone, I am Ou Peng. From a technical perspective, Bitcoin is in a consolidation phase, with prices fluctuating around 97,000 USDT and not yet breaking through the previous high. In the short term, the long and short sides are in a stalemate, and market sentiment is cautious.
Price trend analysis
1. K-line pattern:
Bitcoin has recently formed a volatile range around 97,000 USDT, failing to effectively break through the previous high, and the short-term trend tends to be consolidation.
The daily K-line shows continuous small fluctuations, indicating that market sentiment is relatively cautious and waiting for further direction confirmation.
2. Technical indicators:
MACD: The hourly MACD is still below the zero axis, but there are signs of upward convergence. There may be a rebound signal in the short term, but the strength remains to be confirmed.
RSI: The RSI is currently close to 50, and the market does not show obvious overbought or oversold conditions, with an unclear trend; it may continue to fluctuate in the short term.
Moving averages: The price is currently between EMA7 and EMA30, and below EMA120; the short-term moving averages are flat, while the long-term moving averages are still trending downwards. Overall, the medium to long-term outlook remains bearish.
3. Volume:
The hourly trading volume remains relatively stable, showing no significant increase or decrease, indicating that market trading sentiment is relatively cautious.
The daily trading volume has decreased, indicating that both bulls and bears are in a strong wait-and-see mood, waiting for further breakthrough signals.
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Buy and sell point reference
Buy point one: 95,000 USDT (close to the previous low, the integer level may form support)
Buy point two: 94,000 USDT (if it further dips, it will enter a stronger support area, increasing the margin of safety)
Long stop-loss point: 93,500 USDT (to prevent deep pullback risk after falling below buy point two)
Sell point one: 98,000 USDT (close to recent highs, the integer level may form pressure)
Sell point two: 99,000 USDT (if the upward space opens after the breakthrough, it will test higher resistance ranges)
Short stop-loss point: 99,500 USDT (a key resistance level after breaking sell point two, to avoid trend reversal)
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Market sentiment and strategy
In the short term, Bitcoin is still in a consolidation phase, with cautious market sentiment and no obvious inclination in the funding situation.
If the price falls below 95,000 USDT, we can focus on the support below and wait for a more reliable buying opportunity.
If the price breaks above 98,000 USDT, accompanied by increased trading volume, there is potential for further upward movement to 99,000 USDT or even 100,000 USDT.
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European summary
Bitcoin is currently still in an adjustment phase, and the short-term direction is not yet clear. We can focus on the support level at 95,000 USDT; if it stabilizes effectively, a buy-the-dip strategy can be considered. Meanwhile, 98,000 USDT is a key resistance level, and a breakthrough may lead to further short-term gains. Short-term trading still requires patience, waiting for clearer trend signals!
