Today's Bitcoin (BTC) market analysis and trading reference:
Bitcoin's current price is near 117900. Yesterday, the main cryptocurrency rebounded strongly, showing some warming, and it also halted the downward trend after several days of fluctuation. In the short term, the price shows a slightly stronger oscillation, but faces some pressure. In the 4H chart, the candlestick shows a sideways oscillation pattern, and indicators like KDJ indicate short-term overbought conditions, which may lead to short-term adjustment pressure. Indicators such as RSI and MACD suggest that the current market rebound has been preliminarily established, but momentum is still insufficient, and the contraction of the Bollinger Bands also shows a lack of clear directional breakout in the short term.
Subsequently, pay attention to the resistance at the upper track of 119900 and the support at the lower track of 115400. One can choose to buy high and sell low. It is important to closely monitor the key resistance at 119900; a strong breakout may initiate a new upward attack, and it is recommended to strictly control stop-losses when entering short positions and dynamically adjust position management. A 'Doji' candlestick shape has appeared, indicating that the trend may reverse or continue to oscillate; recently, a 'Hanging Man' and 'Dark Cloud Cover' have appeared, indicating potential downside risks.
The important support level is near the previous low and around 105100. The RSI three lines are in the 50-60 range, slightly rising but not overbought, indicating that the market has slight upward momentum but overall sentiment remains weak. The BOLL is narrowing, and the price fluctuates near the middle track, reflecting that the market is in a consolidation phase recently, with no trend breakout seen in the short term. The MACD's DIF line crosses above the DEA forming a golden cross, with green bars increasing but with limited strength, indicating that the market is in a preliminary rebound after adjustment, and one should not blindly chase longs.
The short-term EMA moving averages are converging and showing oscillation, while the long-term moving averages still tend to go up, indicating an overall bullish trend but with unclear short-term direction. The J line in KDJ is already in the overbought zone and diverging from K and D, suggesting potential adjustment pressure in the short term, but still maintaining a strong oscillation trend. Based on this, I believe the candlestick is still in a 4H channel consolidation phase, it is prudent to go long after a pullback, and after encountering resistance at the upper track, one may choose to enter short!
Buy point sharing: ≤115900 long, stop-loss below 115000; take profit at 117600-118800-119900; if breaking above 120000-120500, it can be held.
Sell point sharing: ≥119900 short, stop-loss above 120800; take profit at 117700-116000; if breaking below 115900-115400, it can be held to below 115000.
Mr. V has been navigating the market for many years, deeply understanding its opportunities and traps. If your investments are not going well and you're feeling regret over losses, come find me for a share of the strategies to advance!
