October 30th, Wednesday, Bitcoin Midday Analysis!
From a technical structure perspective, on the four-hour level, after the opening of the running channel, the price failed to maintain above the upper track, resulting in significant corrections due to oscillation. The volume is arranged in a contraction state without release support, and the moving averages are also intertwined, showing signs of reversal. There is a clear high-pressure situation in the short cycle, and under strong upward momentum, a certain amount of consolidation is needed to build a bottom, with the lower space awaiting further exploration.
On the one-hour level, the price struggles to stabilize at high levels, directly dropping towards the lower track, and bearish volume shows a tangible arrangement and release, driving the moving averages to turn consistently. After a downward spike, there is a certain recovery effect, but it is a normal repair after retracement. The demand for short-term adjustments is strong, and in the coming strategy, we will focus on short positions.
Bitcoin trading suggestion: Short near the 72800 area, targeting 72300-71800; if broken, continue to look lower! #BinanceBlockchainWeek #你问我答 #狗狗币创数月新高 #下一BTC历史新高是多少？ #比特币布林带收窄至低水平 $BTC $ETH
