$BTC 4-hour analysis

The recent price fluctuates around 58,000, with large fluctuations.

There are many long upper and lower shadows, indicating that the market is divergent.

2. Technical indicators:

MACD: Both DIF and DEA are negative, but the gap is narrowing. The MACD bar chart shows that the short-selling force is weakening, and a golden cross may appear.

RSI: RSI14 is currently around 46.5, in the neutral area, and has not entered the overbought or oversold range. There is a need for a correction in the short term.

EMA: EMA7 (57555.7) is lower than EMA30 (58306.3), and both are lower than EMA120 (59759.2), indicating that it is still in a downward trend, but EMA7 is gradually approaching EMA30, and there is a possibility of forming a golden cross.

3. Trading volume:

Recently, the trading volume has increased

The alternation of large-volume rises and large-volume falls indicates that there is a large divergence between longs and shorts.

Support point reference

Support 1: 56000

Support 2: 55000

Resistance point reference

-Resistance 1: 59000 USDT

-Resistance 2: 60000 USDT