The four-hour timeframe shows that the price has broken through the MA144 and MA169 support levels, forming a clear resistance at the previous high. The MACD indicator remains in a death cross, with green bars continuously expanding. The momentum of the downward move is still being released. The KDJ lines have entered the oversold zone but have not shown signs of a reversal. Short-term rebound strength is severely lacking. Combined with the current volume-driven decline, the bearish pattern is clear, and further decline towards the 87,000 level is expected.
Personal advice, for reference only (strictly set stop-loss) Bitcoin around 90,100, buy on dips at 91,300, target 88,500, 87,000$BTC
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Wednesday, Week 21, Bitcoin Intraday Analysis
The four-hour timeframe shows that the price has broken through the MA144 and MA169 support levels, forming a clear resistance at the previous high. The MACD indicator remains in a death cross, with green bars continuously expanding. The momentum of the downward move is still being released. The KDJ lines have entered the oversold zone but have not shown signs of a reversal. Short-term rebound strength is severely lacking. Combined with the current volume-driven decline, the bearish pattern is clear, and further decline towards the 87,000 level is expected.
Personal advice, for reference only (strictly set stop-loss)
Bitcoin around 90,100, buy on dips at 91,300, target 88,500, 87,000$BTC