Bitcoin market situation:
After the recent rebound, the price of Bitcoin has been fluctuating around the key position of the daily Bollinger Band midline. At present, the upper monthly EMA7 and the daily midline resistance level that we have focused on are moving down.
EMA7: 65,700, daily Bollinger Band midline: 63,300,
The downward movement of the key resistance level will bring greater pressure to the price rebound. And the indicator moves down, and the overall trend of the daily line is also moving downward.
The lower support, the current price has fallen below the 4-hour Bollinger Band lower line in the short term, resulting in a break. Although the selling pressure is not large in the short term, the current position cannot stimulate a rebound in buying volume.
Continue to fall below to see how the buying volume of the integer level 60,000 is. During this period, the 61,200 gold support can be used as a buffer.
The 4-hour Bollinger Band has completed its expansion during the decline. The short-term stop is because the 4-hour Bollinger Band triggered a small divergence. If you want to repair the divergence, you still need emotions to stimulate buying volume.
The RSI index fell back to around 50, and the index is relatively neutral, but the index has the risk of triggering a "death cross" and continuing to fall. The continued decline of the index means that the short-term market sentiment will continue to fall. Once it reaches 30, it can trigger a short-term oversold rebound sentiment. (Just look at this index)
Yesterday, in the small rebound of Bitcoin at the 4-hour level, we observed that Bitcoin's short-term trading volume exploded higher, but the price did not make a substantial breakthrough, so it was judged to be a false breakthrough. We will continue to look at today's market data and capital dynamics later. #BTC走势分析
