Crypto Circle Scholar: The major Fibonacci retracement level at 5.5 Bitcoin is effective, bulls have lost ground as the bearish army approaches! Is it a rebound or a crash? Latest market analysis reference
Current Bitcoin price is 95400, it is now 4 AM Beijing time. Yesterday's article reminded everyone to pay attention to the major Fibonacci retracement level of 0.618. As long as the pattern is confirmed, one can enter the market. How about it? If the M pattern is confirmed, one can short from 96450 to 95450. The space is not large, but it completely meets expectations and has reached the target point. Congratulations to the coin friends who followed along. Let's take a look at the current market situation.
There are still four hours until the daily close. The daily K-line has a high of 96300 and a low of 95200. If the daily K-line pullback does not break 95800, it will recover downwards. Continuous bearish lines will continue to pullback. The EMA15 trend fast line has reached 93300 and is expected to continue stretching to provide the first support point for the K-line. According to the current trend, there will be another short position, but the major trend indicators are still alternating and expanding upwards, meaning that after pulling back to key support, a short-term bullish move will still come unless negative news stimulates the market. The MACD has shown continuous top divergence and downward volume, with DIF and DEA contracting at high levels. The upper pressure level of the Bollinger Bands has reached 101000, but the K-line is showing a downward trend, with the middle track focusing on 91300.
The four-hour K-line has shown a downward channel, and the EMA trend indicators are also contracting downwards. EMA15 and 30 have reached the alternating point of 95700. Pay attention to the EA60 support at 94500. If it holds, a rebound is expected. The MACD has shown continuous downward contraction, and DIF and DEA are about to break the 0 axis line. The K-line is continuously testing below 95200 in the Bollinger Bands. For the short-term level, if this line cannot hold, it will signal a major drop; if it holds, there will be a pullback. Stay prepared with a red heart and two hands; once the pattern is confirmed, ensure defense and stop-loss. Do not let greed blind your eyes; safety is always the priority.
Short-term strategy reference: Safety first, small losses and big gains are the goal.
Northern entry point 95200 to 94800, defend at 94500, stop-loss at 500 points, target at 96000 to 97000, if broken, target 97500.
Southern entry point 97500 to 98000, defend at 98500, stop-loss at 500 points, target at 96500 to 96000, if broken, target 95500.
Specific operations are based on real-time market data. The article has a delay in publication; suggestions are for reference only, risks are borne by oneself. $BTC