[Yingbei Trend Quantitative Analysis of BTC Weekly Trend on August 6]
【Price Trend Analysis】
1. K-line pattern:
- In recent weeks, the K-line has shown obvious high fluctuations, and the price fell back after encountering strong resistance near 70,000.
- There have been long upper shadow lines and large negative lines recently, showing strong selling pressure.
2. Technical indicators:
- MACD: DIF and DEA continue to decline, and the MACD histogram is negative and gradually expanding, indicating that the strength of the short side is increasing.
- RSI: RSI has fallen back from the overbought zone (above 70) and is currently around 45, indicating that market sentiment is biased towards neutral to weak.
- EMA: The short-term EMA7 (61209) has fallen below the mid-term EMA30 (58810) and is close to the long-term EMA120 (42452), forming a dead cross, indicating the possibility of further decline.
3. Trading volume:
- Trading volume increased significantly at the price high and then gradually decreased, indicating that the bullish momentum was weakening.
- Trading volume has increased in the latest week, but it has failed to push prices higher, indicating greater selling pressure.
[Trend Determination] BTC’s weekly level still maintains a downward trend, and the 4-hour level has stabilized and rebounded, waiting for a second step back to confirm whether the 50,000 support is valid.
[Analysis of pressure support level]
- The first support level: near 52000
-The first entry level is the 52000-51500 range, with 2-hour and 4-hour Bollinger lower track support
-The second entry position is the 50700-50100 range, along the lower line of the 4-hour wedge triangle
The key support for long stop loss is 50,000. If it breaks 50,000, it will be around 49,000 (recent low)
The third entry position is 49000-48000 range
- Top target:
The first pressure is 56000, the daily Bollinger track pressure
The second pressure is 57200, 4 hours Bollinger middle track
The third pressure range is 59500-60000
Fourth pressure 61800 Fibonacci 79.4% pressure
Short stop loss point 62500 points
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