The current price of Bitcoin is 94100, and the high-altitude opportunity that investors have been waiting for has not yet appeared. However, the market could face a major correction at any time. We recommend focusing on the trend performance of the key pressure range 96500-97500 above. This range is an important line of defense for short forces, and significant market fluctuations may be triggered when prices approach key points. At the same time, if the price tests the previous low again, you can also consider placing multiple orders to prepare for the next round of rebound.
The bearish trend is clear, and short-term rebound still needs to be observed
The recent market performance shows the characteristics of bear dominance. In the four-hour cycle, long upper shadow lines appear many times, which clearly indicates that there is significant selling pressure above and the main funds are taking profit. The MACD indicator further verifies this: it is currently in the negative zone, and the DIF and DEA lines are spreading downward, and the short forces are clearly dominant. Without major good news to stimulate the market, it will be difficult for the market to get rid of short pressure in the short term.
RSI and EMA indicators are simultaneously issuing bearish signals
The Relative Strength Index (RSI) is currently around 40, gradually approaching the oversold area. This value suggests that market sentiment has weakened but has not yet reached extreme levels. Therefore, investors should closely monitor the performance of the RSI after it enters the extreme oversold range as a potential rebound signal.
The trend indicator EMA has also confirmed the current bearish pattern across multiple periods: prices have consecutively broken below EMA7, EMA30, and EMA120, with all moving averages showing a bearish alignment. This phenomenon indicates that short-term, medium-term, and long-term trends are primarily bearish, making trend-following the best strategy at present. The key to current operations is to shift from the logic of trend-following long positions to trend-following short positions. Only by aligning with the trend can one maximize profit opportunities.
Operation suggestions and price references
Long position strategy
Entry point: 93000
Add position point: 92000
Stop loss point: 91500
Target price: 95500
Short selling strategy
Entry point: 96000
Add position point: 96500
Stop loss point: 97000
Target price: 93500
The current Bitcoin market is full of opportunities and challenges; investors must remain calm at all times and rationally layout based on technical analysis. Although the bearish trend dominates, as prices approach important support and resistance zones, opportunities for short-term rebounds and corrections are worth paying close attention to. Following the trend and keenly capturing market signals is the key rule for success in the cryptocurrency space.
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