Technical analysis of the daily and four-hour lines of Bitcoin

In terms of the daily line of Bitcoin, its highest price reached 97,300 and its lowest price reached 94,400, accurately stepping back on the EMA12 trend fast line support. Compared with last week, the EMA12 support level rose to 94,500, bringing a good opportunity to enter the market.

The current trend indicator is bullish, but MACD is shrinking and moving downward with a top divergence, and DIF and DEA are falling from highs. The Bollinger Bands are shrinking, with the upper rail pressure level at 100,800 and the middle rail support at about 94,100. KDJ is shrinking, indicating that the market may still be bottoming out.

At the four-hour level, there was a positive line that tried to pull to 97,000 but failed and bottomed out at 94,400. Now the K line returns to the Bollinger channel, but the lower Bollinger rail of 95,400 (or 95,500) has been lost.

MACD is shrinking and moving downward, and DIF and DEA are approaching the 0 axis. Focus on whether 97000 breaks through or not. If it does not break through, long orders can be closed for profit; if it breaks through, continue to hold for greater returns.

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