1.10 Friday Morning Follow-Up Thoughts
Recently, air traffic has continued to decline, and market sentiment is enveloped by bears, with weak bullish forces. Rebounds have been limited, and after a midnight price rebound to 94600, it subsequently fell below 92000 to 91000. However, due to a break, there was no choice to enter the market. Currently, the price is showing a rebound, but overall it remains relatively weak.
From an overall perspective, air traffic is still in a weak structure, presenting a three consecutive bearish candlestick pattern on the daily chart. Bears are clearly forming a continuation of downward movement, but from a technical structure standpoint, there is still some continuation space for bulls. For those who haven't entered yet, there is no rush to enter. The 4-hour chart continues to show a series of bearish movements, with the Bollinger Bands continuing to open downward. In the MACD indicator, the moving averages are also continuously running below, with bearish volume continuing to increase. The KDJ indicator currently shows an upward trend, but the overall volume increase is not sufficient to change the bearish trend. On the hourly level, the price is constrained by the middle band. If it cannot achieve a breakthrough, there is a risk of continuing to move south towards the 8xxxx price range. Pay close attention to the pressure above at 93200 and the breaking situation. Bears can consider entering the market between 93200-93700, targeting the breaking situation at 91000. If broken, the target will be around 90200. As for the upside, it can be around 3270 with a target of 3150/3100 nearby. $BTC $ETH #BTC🔥🔥🔥🔥🔥 If you have any inquiries, you can follow the public account Li Hui Talks about Currency.
