BTC market analysis
The daily level of Bitcoin rebounded to the middle track and then fell under pressure, and the Bollinger Bands began to open downward. Both the MACD moving average and the KDJ line showed a downward trend, and the short volume showed signs of increasing again. This shows that the market short force gradually dominated and the price may fall further.
At the 4-hour line level, the Bollinger Bands also began to open, and the market fell from the upper track to the lower track again. The MACD moving average continued to run downward, the short volume continued to increase, and the KDJ line ran in parallel. These signs further confirmed the downward trend of the market. At the same time, the K-line pattern continued to show a negative trend, the price was below the moving average, and the attached indicator was dead forked downward for the second time, showing an obvious downward trend.
Although the price decline trend is obvious, it is still necessary to pay attention to the news stimulus of unemployment benefits. There may be a risk of price rebound. On the short-term hourly chart, the big negative fell in the morning and broke down. Although there was a correction at noon, the European session continued to fall. The current K-line pattern is a series of negative and single positive lines, the price is below the moving average, and the attached indicator is a dead cross, indicating that the downward trend may continue today.