The evening bulls are weak and powerless, while the bears take advantage of the situation. The trading volume of Bitcoin has surged, accompanied by a sharp decline, releasing a large amount of selling pressure, which intensifies market panic.
The MACD indicates that bears are dominant, and the RSI is approaching the oversold zone. The 7 EMA continues to suppress prices, while the 30 EMA and 120 EMA are widely separated and trending downward, indicating that the current market trend is weak.
In the hourly timeframe, prices are oscillating downwards, and a pullback is underway on the daily level, with support zones gradually becoming evident.
Trading strategy: Sell high, buy low
Enter long at 1055-1065
Target 1076-1082