BTC Pre-Match Analysis: The Major Cycle Is Overall Bearish #BTC


Daily timeframe: After the market broke out the previous day, it pulled back yesterday to test the SMA120 moving average and successfully stabilized.
The short-term upward target points toward the SMA200, but the upper band of the parallel channel on the daily chart is creating strong resistance, so there is limited room for the rebound.
Yesterday’s daily candle closed as a non-standard doji; the bulls and bears are fiercely locked in battle, and the direction is still not clear.
The large-scale bearish trend remains unchanged. In the short term, I personally lean toward a short-term bullish correction; after the rebound faces pressure, I expect it to follow through with a further decline.
BTC-0,27%
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