BTC Analysis and Review
Today's Bitcoin Market Analysis
Market Review:
Yesterday's strategy suggested shorting at 109,010 and adding positions around 110,010. The market rebounded to a high of 109,510 in the early hours yesterday before starting a volatile decline, reaching a low of 107,210 before rebounding. During this time, the price maintained a slight sideways consolidation in the range of 108,610 to 108,010.
4-Hour Technical Analysis:
Bollinger Bands: The opening is narrowing, with the current range being 107,484 - 109,179. The middle band (108,340) is running horizontally. Last night, the price fell to the lower band of the Bollinger Bands and rebounded, currently testing the pressure of the middle band.
Moving Average System: Showing signs of transitioning from a bullish alignment to a slight bearish arrangement. The 5-day moving average and the 10-day moving average have formed a death cross and are moving downward.
MACD: Forming a small death cross moving downward, bearish volume is slowly being released, indicating an overall trend leaning towards volatile downward movement.
RSI: After the death cross, there was a second intersection, with a trend towards forming a small golden cross, but currently still in the oversold area, suggesting a possible slight rebound.
Conclusion:
Overall Direction: Sideways volatility, slightly skewed towards small upward movement.
Key Resistance: 108,810
Key Support: 106,810
Current Trend: After experiencing a decline, a slight rebound has occurred, currently entering a consolidation phase.
Short-term Range: The expected consolidation range is 107,910 - 108,310.
Short-term Expectation: Overall leaning towards a slight rebound, with a trend to test the upper range of 108,510 - 108,810. If the price can stabilize above 108,310, there is hope to test 108,510; if it fails to effectively break through this resistance, a pullback may occur.
Morning Outlook: It is expected that the price will maintain a volatile operation within the range of 107,8010 - 108,610.#BTC走势分析
