#BTC 5.27- Brother Jue's Market Analysis
Candlestick Pattern:
The 1-hour level shows a long lower shadow (09:00-10:00), touching a low of 107516 before quickly bouncing back to the 108300 area, indicating strong support near 107500.
The daily level has seen three consecutive bearish closes, but today's lower shadow is significant, forming a "hammer" candlestick pattern. We need to monitor whether the close can stand above 109000.
Technical Indicators:
MACD: At the 1-hour level, the DIF and DEA have crossed below the zero line, and the daily level red bars continue to shrink, indicating a decline in short-term momentum.
RSI: At the 1-hour level, it is 39.06 (close to oversold), and at the daily level, it is 63.32 (neutral to strong).
EMA: The price has fallen below the 7 EMA (108905), with the 30 EMA (109085) forming resistance, while the 120 EMA (108537) is a key support.
Trading Volume:
The 1-hour level saw a sharp drop accompanied by a trading volume of 2302 (09:00), which is the highest volume bar in the last 24 hours, indicating panic selling.
The daily level trading volume has decreased for three consecutive days, and today's volume has significantly shrunk, warranting caution for potential trend reversal risks.
I know many people have recently shorted, manage your positions wisely. Short stop-loss point: 111,000 USDT, stop-loss after breaking the previous high of 110,422 to prevent trend reversal.
Stay close to @炬哥趋势 , don't miss the opportunity to reap big profits.
Focus: HUMA QNT SUI FXS
