On Friday morning, Bitcoin continued its tug-of-war pattern, with prices oscillating narrowly between key levels. Technical charts indicate further convergence in market volatility, facing a directional choice in the short term.
From the 4-hour cycle observation, the price has formed a symmetrical triangle convergence after retesting the EMA7 moving average. Although the EMA moving average system remains in a bullish arrangement, attention should be paid to two risk signals: 1: The MACD red momentum bars have continuously shrunk, and the distance between the fast and slow lines is narrowing; 2: The price has reached a new high, but the indicators have not synchronized, showing signs of a top divergence. The current RSI indicator is flattening around 60, indicating a strong wait-and-see sentiment in the market.
Watch the resistance zone at 94500-94800 above; if a bearish engulfing pattern forms, shorts can be arranged; below, there is a convergence support in the 91600-92000 range (EMA21/Bollinger Middle Track/previous lows), and if stabilized with increased volume, long positions can be attempted. Be wary of false break risks at the triangle's end; an effective breakthrough of the 95000 integer mark will open up new upward space.
Morning operation suggestions:
Bitcoin: range from 94000 to 94500, target 92000
Ethereum: range from 1780 to 1800, target 1720
The market changes rapidly; the above suggestions are for reference only, and specific operations should depend on actual circumstances!
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