Market Analysis for Today #BTC☀

The daily K-line has once again broken through the historical high, reaching a maximum of 108,355 USD. Strong bullish candles have been continuously rising, combined with double favorable news from the market, creating a heated market sentiment. The EMA15 trend fast line support has moved up to 101,000 USD, while the EMA30 trend key support is at 97,000 USD. However, the MACD's top divergence signal is becoming more apparent, and with the increase in trading volume, the golden cross trend of DIF and DEA continues. Meanwhile, the upper Bollinger Band has expanded to 106,000 USD, and the K-line has deviated from the moving average for three consecutive days, with the market greed index also reaching a high of 87.

On the four-hour K-line, there have been continuous long upper shadows, indicating that the main force may be taking profits. Therefore, it may be considered to test short positions above 108,000 USD, with targets referencing the EMA15 fast line support at 105,500 USD and the EMA30 key support at 104,000 USD. Currently, the MACD's volume increase is slowing down, and the DIF and DEA are also showing high-level contraction, which may form a death cross signal, suggesting a bearish trend. However, as the larger bullish trend has not changed, the risk of short positions may outweigh the rewards, so prudent investors may wait for prices to test the bottom before considering going long.

Short-term strategy reference:

Market trends are unpredictable, so it is essential to set stop-loss levels properly; ensuring safety is the primary duty, with the goal of minimizing losses while maximizing gains.

- Short position testing point: 108,000 to 108,500, defense level at 109,000, stop loss at 500 points, target level at 106,500 to 106,000, if broken, look towards 105,500 to 105,000.

- Long position testing point: 105,000 to 104,500, defense level at 104,000, stop loss at 500 points, target level at 106,000 to 106,500, if broken, look towards 107,000 to 107,500.