1. Daily Line Analysis
Judging from the daily chart, Bitcoin (BTC) has continued to decline recently, showing an obvious correction trend. The chart shows that Bitcoin has been falling for several consecutive days from a high of $59,790, and the price has now fallen back to around $56,471, showing a significant short pattern. The MA10 (yellow) moving average crosses below the MA30 (pink) moving average to form a "death cross", further confirming the dominance of short sellers in the short term. The MACD indicator shows that the DIF line (blue) and DEA line (yellow) continue to expand below the zero axis, and the red columns continue to enlarge, indicating that downward pressure is intensifying and short kinetic energy is strong.
2. Four-hour line analysis
On the four-hour chart, Bitcoin has experienced relatively violent fluctuations in the short term. The current price has formed a short-term support near the previous low of $55,555, but the overall trend is still weak. The MA5 (yellow) and MA10 (red) moving averages are in a short position, and the price has tested the moving average pressure many times but failed to break through effectively, indicating that the upper pressure is relatively large. At the same time, the MACD indicator shows a "death cross" below the zero axis, and the short-selling force still dominates. Overall, Bitcoin may continue to test the lower support in the short term. If the support of $55,555 is lost, the subsequent decline may further expand.
3. One-hour line analysis
On the one-hour chart, Bitcoin's short-term trend is struggling. The current price is hovering around $56,471. The MA5 (yellow) moving average has exerted some pressure on the price, while the green column in the MACD indicator has gradually shortened. The bearish momentum has weakened, but we still need to be vigilant about the strength and sustainability of the rebound. Overall, although there is a possibility of a rebound in the short term, the upper resistance is strong and it is difficult for the price to rise quickly. Investors should pay close attention to changes in trading volume and the performance of key support levels to determine whether the rebound can continue.
4. Operational Suggestions
Short-term operation: The current price is running around $56,471. If the price rebounds to the MA10 moving average (about $57,000) and a stagflation signal appears, you can consider short-term short selling with a target of $55,555. Stop loss is recommended to be set above $57,500 to avoid risk expansion.
Medium and long-term layout: For medium and long-term investors, it is recommended to pay close attention to the support of $55,555. If this position stabilizes effectively, you can consider entering the market in batches, but you need to pay attention to controlling your position. If it falls below, you need to be cautious.
Risk warning: The current market short-selling force is strong, and the trend will remain weak in the short term. Operations need to be cautious, pay attention to setting stop losses, and guard against sudden market risks.
Summary: Bitcoin is in a correction phase recently, and the market sentiment is biased towards the short side. Pay attention to the performance of the $55,555 support level during the day. If it is effectively held, this position will become an important line of defense for short-term bulls, otherwise the downward space may open up further. Investors need to remain vigilant, operate cautiously, and wait for the market direction to become clearer.
