Technical analysis:
Bitcoin daily K shows local low-level Yin cross star, small Yin inverted line, and bald small Yin line. Combined with the continuous weakness of the volume in the last three trading days, the short-term daily line continues to be suppressed by the short side.
The 7-day moving average and the 50-day moving average show a convergence trend. The 50-day moving average still deviates from the 200-day moving average. The long-term bullish outlook and the short-term market sentiment are still fiercely competitive.
Fundamental analysis:
On-chain data: El Salvador purchased 1 BTC from bitfinex on the 23rd at a cost of about 94,500. Micro Strategy continues to hint that it will continue to buy BTC. There is no transfer behavior in the balance address of Mentougou. The Trump family address has not continued to increase its holdings of Shanzhai. Large investors and market sentiment continue to wait and see.
Macroeconomic factors: Fed Powell continues to issue hawkish remarks, suggesting that the number of interest rate cuts will be reduced to about 2 times in 2025. The strong dollar and weak gold are bearish for Bitcoin and the currency circle in the macro sense, which also explains the reason for the recent market decline.#Combiningtechnical and fundamental analysis, the operation suggestions given by Coinbase are: For aggressive investors, BTC will most likely continue to show a slow downward trend in the next few days. The operation strategy recommends rebounding and shorting. For long orders, it is recommended to take profits and stop when you are ahead. For specific points, please refer to: BTC96747-97553 short, target 94732. For conservative traders, wait and see, and wait for the market sentiment to reverse from wait-and-see to a bullish pattern before operating.
Disclaimer: The content of this article only represents the author's views, does not constitute investment advice, and is for communication purposes only.
