🚀 $BTC Morning Analysis
Good morning, everyone!
From the chart, BTC has recently experienced a pullback after reaching a high of around 12459, followed by a downward trend, with last night's low hitting around 11460, accompanied by a spike in volume and panic selling.
Technical Analysis
Short-term: Currently stabilizing near the lower Bollinger Band, showing some rebound, but the volume is insufficient, indicating limited buying power at lower levels.
Support: 11460 has been confirmed twice, making it a key support level in the short term.
Resistance: The area around 11650-11700 is the first level of resistance, a breakthrough is needed for further recovery.
Trend: The trend remains weak, and in the short term, it is in a downward channel with no clear signs of stabilization.
🔹 News
Market sentiment remains bearish, with noticeable selling pressure during last night's U.S. session;
Concerns over interest rate hikes and liquidity persist, lacking significant positive support in the short term.
My View
Currently, it is a weak rebound, with the overall direction being bearish. The short-term recovery opportunity exists only if 11460 holds; otherwise, further declines cannot be ruled out.
For cautious friends, it is advisable to observe, while aggressive traders can take light positions for a rebound, but stop-loss should be strictly set below 11460. 🚀 $BTC Morning Analysis
Good morning, everyone!
From the chart, BTC has recently experienced a pullback after reaching a high of around 12459, followed by a downward trend, with last night's low hitting around 11460, accompanied by a spike in volume and panic selling.
Technical Analysis
Short-term: Currently stabilizing near the lower Bollinger Band, showing some rebound, but the volume is insufficient, indicating limited buying power at lower levels.
Support: 11460 has been confirmed twice, making it a key support level in the short term.
Resistance: The area around 11650-11700 is the first level of resistance, a breakthrough is needed for further recovery.
Trend: The trend remains weak, and in the short term, it is in a downward channel with no clear signs of stabilization.
🔹 News
Market sentiment remains bearish, with noticeable selling pressure during last night's U.S. session;
Concerns over interest rate hikes and liquidity persist, lacking significant positive support in the short term.
My View
Currently, it is a weak rebound, with the overall direction being bearish. The short-term recovery opportunity exists only if 11460 holds; otherwise, further declines cannot be ruled out.
For cautious friends, it is advisable to observe, while aggressive traders can take light positions for a rebound, but stop-loss should be strictly set below 11460.
