Judging from the 4-hour K-line chart of BTC, the market has shown a clear correction trend, with the price falling rapidly from the recent high of 108366.8. It has now fallen below the important short-term moving average support, and the power of shorts has increased significantly. Combining moving averages, technical indicators and market sentiment, the following are reasonable predictions and operational suggestions for today.
Yesterday's Trend Review
Yesterday's performance:
After hitting a high of 108366.8, the BTC price quickly fell back, forming a long negative line, indicating heavy selling pressure in the market.
Key points:
Support level: MA100 moving average (99013.42) and previous low of 90200.
Pressure level: MA30 moving average (103857.6) and MA7 moving average (102904.7).
Market sentiment: After falling from highs, market sentiment has turned cautious, and bulls and bears may enter a tug-of-war in the short term.
Technical Analysis
Moving average system:
The short-term moving averages (MA7, MA30) show a death cross, indicating that bears dominate the market in the short term.
MA100 serves as medium-term support, and the price is approaching this position. If it falls below this level, the downward trend will accelerate.
Price patterns:
The current price has formed a top fallback structure and may continue to test the lower support in the short term.
Technical indicators:
RSI: quickly fell back to around 40, indicating a weak market.
MACD: Double lines cross downward, the short-term momentum column increases, and the short-term bias is bearish.
Trading volume: Yesterday's trading volume fell sharply. If the volume shrinks today, there may be a short-term recovery.
Operation strategy and point setting
Direction 1: Bullish (support rebound)
Opening position: 98800-99200 (close to MA100 support)
First stop profit position: 101800 (short-term rebound target)
Second stop profit level: 103500 (MA30 resistance level)
Stop loss: 98400 (stop loss if it falls below support)
If the price stabilizes near MA100, it means that the support is effective and the market may usher in a technical rebound. Short-term operations can choose to buy low.
Direction 2: Bearish (continued callback)
Opening position: 101500-101800 (open short position after the rebound encounters resistance)
First stop profit level: 99000 (support target)
Second stop profit position: 97500 (previous low point test)
Stop loss: 102300 (stop loss if breaking through resistance)
If the price rebounds to around 101,800 and is blocked, it indicates that the short-selling force is still dominant, and you can choose to short at a high level.
If the price falls below 98,800, stop loss in time to avoid the risk of a deep fall. If the rebound fails to break through 103,500, the market may continue to fluctuate or fall. The market may be affected by macro or news factors, and positions need to be adjusted flexibly.
The current market is dominated by bears. Focus on the MA100 support and MA30 resistance areas, and flexibly adjust trading plans to ensure that risks are controllable and profits are maximized!
