2.16 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference
Bitcoin rebounded slightly after a pullback to around 96700 yesterday, moving back up to the 97000 level, but it did not break through again, and the market is stuck in a consolidation pattern. The day continues to show narrow fluctuations, with prices oscillating around 97500, and so far the price fluctuation range has only been over 600 points, with no breakthrough in the consolidation pattern.
From the short-term 4-hour chart, the trend is operating above the middle track, with prices maintaining consolidation in the short term. The gap at the upper track has not yet been opened, but daily support is slowly moving up. If the price can break through the 98000 resistance and stabilize, there is a possibility for the market to progress towards further resistance at the upper level. Both DIFF and DEA are negative, and the MACD histogram remains below the 0 axis most of the time, indicating that the market is in a weak state, although there are signs of contraction in the green bars. Recently, the K-line has mostly shown small bearish and bullish movements, indicating some divergence and fluctuations near the current price level. This has formed a long-short game pattern, with the short-term EMA7 and medium-term EMA30 merging and flattening, while the long-term EMA120 is inclined upward, indicating an overall trend biased towards high-level fluctuations. Currently, the market suggests to mainly observe and wait for an effective breakout before entering the market.
2.16 Bitcoin Short-term Reference:
Short Position: 98500-99000 short, with a stop loss at 100500, target below 97300,
Long Position: Focus on the 96000-96500 range for long, with a stop loss at 94700, target above 97500,
#BTC #BTC走势分析 #btc70k #BTC☀ #ETH