Judging from technical indicators, BTC has indeed entered a relatively typical sideways consolidation phase recently, with the following main features:
1. Bollinger Bands close
The upper track is about 95,571 USDT, and the lower track is about 92,308 USDT. The bandwidth is gradually narrowing, indicating that market volatility is decreasing and prices are suppressed in this range.
After the closing, it is common to see a period of sideways trading until new news or large transactions bring about a breakthrough.
2. The moving average tends to be flat
MA(7) and MA(30) are currently running at around 94,000 USDT. The short- and medium-term moving averages are glued together and the slope is close to 0, with no obvious upward slope or downward slope.
This state means that the short-term long and short forces are relatively balanced, and the price lacks sustained unilateral momentum.
3. Volume is down
The volume in recent hourly bars is significantly lower than the volume range during the previous breakthrough. Without the support of large volume, it will be difficult for prices to experience a large unilateral impact again.
4.RSI falls back to neutral zone
RSI(7) dropped to about 44, which is neither overbought (>70) nor oversold (<30), and the market is in a neutral and cautious wait-and-see state.
Outlook
The probability of continuing sideways is high
With the Bollinger Bands narrowing, the moving average flat, and the volume shrinking, BTC is likely to fluctuate and consolidate in the range of about 92,300-95,500 USDT, waiting for new news or large orders to flow in.
Watch for breakthrough signals
Breakout: If the 95,500-95,700 range is broken with significant volume, the upper gap space can be seen towards the previous high of 96,000-97,000 area;
Downward Break: If it falls below 92,300 with large volume, the support below will fall back to test 90,000 or even lower 88,000 USDT.