4-hour line analysis

Trend analysis: From the recent 4-hour line, the overall price of Bitcoin has shown some fluctuations, but the trend is not very clear. From 16:00 on December 24 to 25, the price fell sharply compared with 16:00 on the 22nd, but rebounded compared with 16:00 on the 23rd. The last K-line was a positive line, and the closing price was greater than the opening price.

Support and resistance level: At present, the more critical support level below is around US$92,703, and the upper resistance level is around US$98,929. If the price can effectively break through the upper resistance level, it is expected to further open up the upward space; on the contrary, if it falls below the lower support level, it may continue to fall.

Technical indicator analysis: According to BOSS Wallet analysis, the MACD histogram continues to be positive and gradually becomes longer, indicating that the bulls are strong, but the volume and price diverge, and the upward momentum has weakened. The KDJ indicator value is 49, with no golden cross or dead cross, and is in a neutral state.

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1 hour line analysis

Trend analysis: The 1 hour line shows that Bitcoin was rebounding before, but the overall rebound strength is not very strong. The market is in a more tangled state, and the long and short sides are fighting fiercely.

Support and resistance level: The current hourly level small-level retracement support level is $94,000. As long as it does not fall below this position, it can continue to rebound. The upper pressure level first looks at $95,000. If it can break through this pressure level and the 4-hour closing line can be closed, then this wave of rebound strength will increase. The further upper pressure levels are $96,500, $97,500 and $99,451. If the 1-hour level close falls below $94,000 again, this small-level rebound may end and it will fall again. The target support below is $92,600. After breaking through, it will further look to $90,286 and $88,069.

Technical indicator analysis: According to kraken data, the bearish momentum of MACD on the hourly chart has accelerated, and the RSI relative strength index has fallen below 50, indicating that bears are dominant.