Yudong Analysis December 28, 2024 Bitcoin BTC
Bitcoin is currently at the lower end of the consolidation range, with a current price of approximately 94,620 USDT. On the daily chart, it can be seen that the recent pullback has approached the support area of 94,415, which is an important support level during the previous consolidation period and may become a short-term stop-loss point. In terms of technical indicators, the MACD is still in a death cross state, and the shortening red bars indicate a weakening of bearish strength. The RSI is at 44.77, close to the oversold range, which may attract funds to buy on dips.
On the hourly level, the short-term moving average (7MA) and long-term moving average (99MA) show significant downward pressure. Currently, trading volume has decreased, and the market sentiment is cautious from both bulls and bears. The MACD on the hourly level is at a low point, with the fast and slow lines approaching convergence, which may indicate a short-term rebound demand.
It is suggested that if the price effectively breaks below 94,000, it may trigger further declines to 92,500 or lower. It is advisable to wait for the price to stabilize above 96,000 before taking action.
In terms of medium to long-term analysis, if the price stabilizes in the current range (94,000-95,000), one can gradually buy on dips, but position control must be exercised.
Now, at the end of the month, the options settlement is quite sensitive, and short-term volatility may intensify, so risk management in operations is crucial. Pay attention to whether the bulls can hold the key support level, as the strength of the subsequent price rebound will be an important signal for judging a reversal.