Tuesday Morning Silk Analysis
Key resistance under pressure, prioritize high range for trading in the morning
Overnight BTC maintained a narrow fluctuation pattern, repeatedly testing within the range. The current key resistance area above is 860, and the core support below is 837. It is worth noting that although there were occasional breakouts during the session, they failed to establish an effective trend continuation.
From a four-hour cycle perspective, the price continues to engage in a tug of war around the middle track. The Bollinger Bands show a contracting trend, and the price fluctuation range is gradually narrowing, maintaining a short-term range consolidation pattern. Analyzing the smaller one-hour cycle, the price has attempted to break the 848-853 area three times unsuccessfully, with the highs showing a sequential downward characteristic, fully validating the selling pressure above. The trading strategy insists on shorting when rebounds encounter resistance, with short-term long positions as a supplementary trading thought when retesting support.
Trading Suggestions
For Bitcoin, set up trades in the 848-853 resistance range, targeting the 837-830 support zone. If there is an effective breakout, look down to the 820 area.
