GM☀️ I am Oupeng. Today, let's take a look at BTC's trend. From a technical perspective, Bitcoin's current price is oscillating in the range of 97000 to 98000, which is a relatively narrow consolidation range. Recently, on February 12 at 21:00, a long lower shadow was observed, indicating strong buying support and suggesting that there is significant support in the market. Now, let's take a look at the signals currently given by the market, with short-term buy and sell points attached at the end.
Candlestick Patterns:
Currently, the price is forming a narrow consolidation box pattern in the range of 97000 to 98000. The overall trend is relatively stable, but there is still some volatility.
At 21:00 on February 12, a long lower shadow appeared, indicating that there is buying support at this level, and investors should pay close attention to this price range.
Technical Indicators:
MACD: The current DIF and DEA values are both positive, and the MACD histogram is showing red, indicating that bullish strength is dominant in the short term. However, it is worth noting that the distance between the DIF and DEA has begun to narrow, suggesting that bullish momentum may be fading, and there is a risk of market adjustment in the short term.
RSI: The RSI14 indicator is currently close to the overbought area (61.78). Although it has not yet entered extreme overbought territory, attention should still be paid to the potential waning of market rebound momentum in the short term.
EMA: Currently, the EMA7, EMA30, and EMA120 moving averages are aligned in succession, indicating an upward short-term trend. The price is also slightly above the EMA7 moving average, and if it can maintain its position above this level, there will be substantial upside potential in the future.
Trading Volume:
The trading volume has remained stable in recent hours, with no significant increase or decrease, indicating a relatively stable market participation sentiment, and the public generally maintains a wait-and-see attitude.
However, on February 12 at 21:00, trading volume significantly increased, accompanied by rising prices, indicating there is support around 97000. If the market continues to consolidate in this range, it may challenge recent levels to the upside.
[Buy and Sell Positions]
Buy Point One: 97000 USDT
Reason: This price level is close to prior low point support and is a round number, which may serve as a starting point for a market rebound.Buy Point Two: 96000 USDT
Reason: If the price further dips into a strong support area and approaches the EMA120 moving average, it represents an ideal buying opportunity.Long Stop-Loss Point: 95500 USDT
Reason: If the price falls below the 95000 round number and the previous swing low, the market may experience a reversal, and the trend may shift from upward to distribution.Sell Point One: 98500 USDT
Reason: This is close to the recent high pressure level and is also a round number, at which the market may face some selling pressure.Sell Point Two: 99500 USDT
Reason: If it breaks above the previous high, the upper space will further open up, and it approaches the psychological barrier of 100,000, which may result in amplified upward momentum in the short term.Short Stop-Loss Point: 100500 USDT
Reason: If the price breaks through the 100000 round number and successfully holds above it, it indicates that the upward trend is confirmed, and the market will enter a stronger bullish phase.
Oupeng's Summary:
Currently, Bitcoin's price is oscillating between 97000 and 98000, with potential for significant short-term gains, but attention should be paid to the narrowing signals of DIF and DEA, as the market may face adjustment risks. It is recommended to look for buying opportunities around 97000 and 96000, with a stop-loss set around 95500. If the price breaks through 98500 or 99500, selling or shorting can be considered, especially if it breaks through the 100000 level, with a stop-loss point set at 100500. Overall, market sentiment is strong, and short-term operations need to be flexibly adjusted.
