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The current price of Bitcoin is 87160, the support at 86000 mentioned yesterday is effective, both the K-line and indicators are around that area, with the lowest dipping to 85800. The bearish strength indicated by the K-line from yesterday is clearly stronger than the bullish strength, which is why this support is being tested again. The current approach is quite simple; if we consider forming a range between 86000-88500, then it’s best to sell high and buy low to take advantage of the fluctuations. However, if this rebound does not surpass the high point of 88500 and the bullish strength gradually weakens, then it would be prudent to consider buying at the second support level of 85000. The upward breakout target is still tentatively set at 91000.

Switching to the daily chart, Bitcoin has been on a downward trend since reaching 110000, forming a downward trend line. In the past two months, it has rebounded four times upon touching this downward trend line, followed by a pullback. This trend line is also about to break, so it’s worth waiting patiently. In the short term, there’s definitely nothing wrong with being bullish.

#BTC走势分析