The daily condition of Bitcoin is like this: its highest price soared to 97300, while the lowest price was 94400, and it precisely tested the support point of the EMA12 trend line.
Compared to last week, the support level of EMA12 has moved up a bit, and this week it has risen to 94500, creating a good opportunity for entry.
The current trend indicator seems bullish, but the MACD is decreasing in volume, and there is a situation of divergence at the top, with both DIF and DEA declining from a high position.
The Bollinger Bands have been in a state of contraction, with the pressure on the upper band reaching 100800, and the support on the middle band is around 94100.
KDJ shows a contracting shape, which indicates that the market trend may still be in the process of finding a bottom.
Now let's look at the four-hour level: the four-hour K-line has produced a long bearish candle; previously, there was a bullish candle that tried to pull the price up to 97000 but failed, then it dropped down to test the bottom at 94400.
Now the K-line has returned to the Bollinger channel, but the lower band at 95400 (it could also be 95500, as there are slight differences in data over time) can no longer hold.
The MACD is also decreasing in volume, and both DIF and DEA are approaching the 0 axis line.
We need to focus on whether 97000 can break through; if it cannot, those holding long positions can take some profits and withdraw; if it can break through, then hold on for better returns.
