Yesterday, Bitcoin performed impressively in technical trends, successfully breaking through the four-hour midline and stabilizing above 98,000. From the four-hour chart: the price broke through the midline and stabilized at a high level, demonstrating short-term bullish advantages, with a large influx of funds pushing prices up, prompting investors to adjust their strategies accordingly.
There are also new trends at the daily level: Bitcoin is continuously approaching the middle line of the Bollinger Bands, which is a key market node.
If it breaks through and stabilizes subsequently, a mid-term rise is expected to begin; conversely, it may fall into consolidation or decline.
Technical indicators also convey key information:
MACD bearish energy bars are shrinking, indicating a weakening of bearish strength and a gradual rise of bullish forces, suggesting a potential reversal trend.
The KDJ indicator is forming a golden cross upwards, providing 'support' for a short-term bullish market, attracting technical investors to enter the market.
However, the Bitcoin market is complex, and technical analysis has its limitations:
Macroeconomic factors are significant; during a recession, some funds flow in for hedging, pushing prices up, while in a recovery, the return of funds puts pressure on prices.
There are significant differences in regulatory policies, with varying attitudes among countries, and major policies can emerge at any time to disrupt the technical landscape.
There are many cybersecurity risks; trading platforms often suffer from hacker attacks, and once an incident occurs, it can easily trigger a sell-off.
From the perspective of market uncertainty, based on simple technical analysis, key attention is on the 100,000 level intraday.
It is recommended to go long near 98,000, eyeing 99,000 - 100,000, and if broken, look at 102,000.
If it doesn't break, a short position can be established near 100,000, targeting 98,000 - 96,000. Investment carries risks; proceed with caution!
