Bitcoin's intraday market continues yesterday's consolidation, with evening prices testing upward pressure around the 84,000 line. It has currently retraced to around the 80,000 mark. The support at the 80,000 line has been temporarily broken, and there has been a decent short-term rebound recently. Therefore, although the market is leaning downward, do not blindly short before breaking the level.
On the short-term hourly chart, the wedge range is continuously compressing, with the high slowly descending. The recent few candlesticks show a trend of oscillating downward, with prices fluctuating between 80,000 and 83,000 without forming a clear breakthrough. The MACD on the 4-hour level is in negative territory, and the fast and slow lines show a death cross, indicating significant short-term downward pressure. The MACD on the 1-hour level continues to weaken below the zero line, and no clear reversal signal has emerged. The RSI on the 4-hour level is around 40, in a neutral but weak area. The RSI on the 1-hour level hovers around 35, close to the oversold zone, but has not formed a divergence. The price on the 4-hour level operates below EMA7, EMA30, and EMA120, with moving averages showing a bearish arrangement, suppressing price rebounds. The price on the 1-hour level briefly crossed above EMA7 but fell back again, showing clear short-term moving average pressure. The overall trend remains in wedge range adjustment; it is recommended to focus on key support and resistance levels for high shorts, with low longs as a supplement.
#Crypto Market Rebound# #Potential Altcoins# #BTC# #ETH# BTC-2.23% ETH-0.29%
Bitcoin's intraday market continues yesterday's consolidation, with evening prices testing upward pressure around the 84,000 line. It has currently retraced to around the 80,000 mark. The support at the 80,000 line has been temporarily broken, and there has been a decent short-term rebound recently. Therefore, although the market is leaning downward, do not blindly short before breaking the level.
On the short-term hourly chart, the wedge range is continuously compressing, with the high slowly descending. The recent few candlesticks show a trend of oscillating downward, with prices fluctuating between 80,000 and 83,000 without forming a clear breakthrough. The MACD on the 4-hour level is in negative territory, and the fast and slow lines show a death cross, indicating significant short-term downward pressure. The MACD on the 1-hour level continues to weaken below the zero line, and no clear reversal signal has emerged. The RSI on the 4-hour level is around 40, in a neutral but weak area. The RSI on the 1-hour level hovers around 35, close to the oversold zone, but has not formed a divergence. The price on the 4-hour level operates below EMA7, EMA30, and EMA120, with moving averages showing a bearish arrangement, suppressing price rebounds. The price on the 1-hour level briefly crossed above EMA7 but fell back again, showing clear short-term moving average pressure. The overall trend remains in wedge range adjustment; it is recommended to focus on key support and resistance levels for high shorts, with low longs as a supplement.
#Crypto Market Rebound# #Potential Altcoins# #BTC# #ETH#
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