4.7 Bitcoin touches the bottom to form support for a rebound, buy on any pullback
The 4-hour Bitcoin price overall shows a downward trend, and the current price has fallen below the lower Bollinger Band, indicating an oversold condition, accompanied by a brief rebound. The moving averages still present a bearish arrangement, suppressing further price increases. The market may continue to face downward pressure. Although the lower Bollinger Band provides short-term support, the rebound strength in the oversold range is limited, and the black three soldiers pattern and the waist-holding line confirm the strong bearish force.
The 1-hour price overall shows a downward trend, breaking below the middle Bollinger Band. Although there is a slight rebound, the strength is weak, and the downward opening of the Bollinger Band indicates that further downward testing of the support level will continue. The recent appearance of a bottom divergence and a doji suggests that a trend reversal may soon occur. The price remains near the important support levels of 77000 and the lower Bollinger Band, and it is crucial to closely monitor whether this support can hold and support the price upward.
In the short term, attention should be paid to the price's reaction to important support levels. If the price continues to find support around 77000 and rebounds upward, there will inevitably be an opportunity for upward movement. For medium to long-term positioning, refer to the points below. Friends who have not had ideal trading in the recent market can consult btc0796 to find me for market discussions.
Buy Bitcoin at 76500-77000, with a target around 82000-88000. Stop loss at 75500.
Buy Ethereum at 1470-1520, with a target around 1750-2050. Stop loss at 1420.
