Bitcoin Market Analysis and Trading Strategy
Current Price
Current Bitcoin Price: 97,653.97 USDT
Short-term Strategy (3-7 days)
Trading Direction: Short-term Short
Technical Analysis and Strategy Logic
1. K-line Pattern:
The monthly chart shows that Bitcoin has experienced a rapid increase, with the RSI indicator exceeding 80, indicating a severe overbought area, and short-term pullback pressure is increasing.
On the weekly chart, the K-line shows a long upper shadow, indicating weakened bullish momentum.
The daily chart shows the price has retreated from the high of 108,000 and is currently below the 5-day moving average.
2. Indicator Signals:
MACD: Although the monthly and weekly MACD still maintain a bullish arrangement, the daily chart shows a death cross, and the red bars are gradually shortening, indicating weakening short-term momentum.
RSI: The daily RSI has fallen from the overbought area to below the midpoint, indicating increased downside potential.
3. Market News:
Signs of slowing ETF capital inflows are emerging, and market sentiment may gradually shift from optimistic to cautious.
The Federal Reserve's December meeting may signal interest rate hikes or a prolonged high interest rate environment, posing risks to risk assets.
Trading Strategy
1. Entry Price: Gradually build positions between the current price of 97,600-98,000 USDT.
2. Take Profit Price: Target price range of 91,500 USDT.
3. Stop Loss Price: If the price breaks above 99,500 USDT, stop loss and exit.
4. Position Suggestion: It is recommended to use a 15% capital position.
5. Leverage Choice: High leverage is not recommended; a leverage below 3 times is recommended.
