Yesterday, the Bitcoin market fluctuated violently, with the price once soaring to around 99500, and then began a choppy downward mode, overall showing a clear retracement trend.
From a technical indicator perspective:
Four-hour level: K line continues to show a bearish short-term pressure. In the MACD indicator, bullish volume is decreasing, indicating insufficient upward momentum, and the KDJ indicator has formed a death cross downwards, further confirming the downward adjustment trend in the short term.
- Daily level: MACD bearish energy bars are expanding, showing strong selling power, KDJ is opening downwards, and the significant retracement trend is clear. Day trading should focus on shorting during rebounds.
BTC: Short in the range of 98000 - 98700.
Target: 96000 - 94000.
Bamboo shoot: 99500
The above suggestions are for reference only; the market changes rapidly, so investors must be cautious!