Last week's significant pullback is expected to continue this week. The daily and weekly K-line cycles show a weak market, and the bearish forces are likely to continue testing the lower space. Please pay attention to risk control. #BTC# #Crypto#
[Price Trend Analysis]
K-line Formations:
Recent K-lines have shown a clear downward trend, especially with significant fluctuations on December 20 and December 21.
In the 4-hour cycle, the price quickly fell from 97054.7 to 94017.4, indicating strong selling pressure.
Technical Indicators:
MACD: In the 4-hour cycle, the MACD histogram remains negative and is gradually expanding, indicating enhanced bearish strength. On the daily level, both DIF and DEA are diverging downward, showing that the market is still in a weak state.
RSI: The 4-hour RSI is 34.6, close to the oversold zone but not in the extreme area, indicating potential short-term rebound demand. The daily RSI is slightly above 42, showing some room for recovery.
EMA: The current price is below EMA7 (95452), indicating short-term pressure; it is also below EMA30 (98077.6) and EMA120 (98890.1), with an overall bearish trend.
Trading Volume:
From December 20 to 22, trading volume significantly increased, especially with a large volume increase on December 20, indicating intense market sentiment and intensified long-short battles.
In recent cycles, trading volume has decreased, showing strong market wait-and-see sentiment. Attention should be paid to subsequent changes in trading volume to determine direction choice.#BTC☀ #加密市场盘整
