BTC
Bitcoin
Recent performance of Bitcoin has drawn significant attention, with daily charts showing its price fluctuation range between 90000 and 97000. After receiving support twice at the EMA12 trend support level of 93500, it has started to stretch upwards. In terms of technical indicators, MACD shows a downward trend with decreasing volume, DIF and DEA are at high levels and indicate a bearish direction. The Bollinger Bands are gradually narrowing, with the upper resistance level reaching 103000, and the middle support at 91300. The large-scale span is nearly ten thousand points, and KDJ started to contract after facing resistance in its downward diffusion. The overall trend is in a top divergence contraction phase, and under this circumstance, there is a high possibility of a sharp spike. Given this, investors may consider placing sell orders above 100000, however, the current market sentiment remains predominantly bullish. Caution is advised in balancing long and short forces during trading, and close attention should be paid to subsequent market changes.
Bitcoin's four-hour chart has returned to a high position on the EMA trend indicator, with a peak at 98000, and a defensive level can be set at 99000. MACD is currently showing increased volume, with DIF and DEA forming a golden cross. The upper resistance of the Bollinger Bands is at 99000, and KDJ is approaching overbought territory. In the absence of extreme market conditions, bulls still dominate, thus the operational strategy should favor buying on dips at support, as the larger scale shows a bullish trend, and short-term trades can be entered based on support points.
