September 22 Afternoon BTC Analysis

Warning of a sharp drop in the afternoon! 115,000 has fallen below, approaching 112,000

The afternoon trend of BTC continues to weaken, with three consecutive bearish candles in the last three K-lines, the price has plummeted from above 115,000 to around 112,400, a short-term decline of over 2%. On the daily chart, long upper shadows combined with multiple large bearish candles clearly indicate selling pressure.

Currently testing the key support level of 112,000, which is also the Fibonacci 61.8% retracement level. If it breaks down, it may trigger algorithmic selling pressure, looking for support at 111,965. The MACD death cross continues, RSI has fallen to the neutral zone at 47, and trading volume has not decreased, indicating that bearish momentum is still being released. Short-term resistance is seen at 114,000, a breakout is needed to alleviate the downward trend.

BTC Recommendation: Short at 112,600-113,100, target 111,000

Long at 111,000-110,500, target 113,800-114,300