【Bitcoin short-term trading trend】🔥

Token name: BTC
Current price: $58,342.01

📊 Market sentiment analysis
Recent news has shown mixed sentiment, with both positive and negative implications.
Market sentiment is positive as MicroStrategy issues $700 million in bonds to acquire more BTC.
Sentiment is bearish as BTC retreats from $60,000, market panic mounts, and concerns over U.S. retail sales data influencing Federal Reserve decision-making.

📈 Technical Analysis
The RSI is at 50.14, indicating a neutral position, neither overbought nor oversold.
Bollinger Bands show prices close to the middle band, indicating a stable market with no significant fluctuations.
The pivot point shows that current prices are slightly above the pivot point (58308.30), indicating mild bullish sentiment.
The DMI shows a slightly bearish trend with the ADX at 28.64, indicating that the strength of the trend is waning.
The MACD is negative but shows that the bearish momentum is waning as the histogram is moving towards zero.
KDJ indicates potential overbought conditions with a J value of 102.86, advising caution on further gains.

💡 Advice and trading strategies
Consider holding off on entering new long positions until clearer bullish signals emerge.
If the price falls below the pivot point at 58308.30, consider shorting, targeting support.
For short-term trading, pay close attention to price action around pivots and support levels.
Confidence in the current analysis is moderate due to mixed signals from technical indicators and market sentiment.
It is recommended to take profits on short positions near 58191.16 (S2) and stop losses above 58425.44 (R2).

Technical analysis is based on the 1-hour candlestick chart indicator, and users who like short-term trading can refer to it.

Let me remind you again that the market is currently volatile, so be sure to take profits and losses. The analysis is for reference only, DYOR!
$BTC
#加密市场急跌 #美国大选如何影响加密产业？ #灰度将推出首个美国XRP信托

FTM short-term trend, fear of deep correction! 🔥

FTM market technical analysis and key level insights:
According to AMBCrypto's technical analysis, Fantom (FTM) has recently been consolidating between $0.472 and $0.50 for four days. The FTM price is hovering at the lower limit of this range. The current price action shows a more cautious market sentiment, especially it is still below the 200-day moving average (EMA), showing an overall downward trend.

Key support and resistance levels
Support: $0.469. If FTM closes below this level on a daily basis, an 8% downside is expected, and the target price may fall to $0.431.
Resistance: $0.50. If this level can be broken, the market sentiment will turn positive, which may push the FTM price up 9% to $0.55.

However, it is worth noting that the current consolidation comes after a sharp 40% price increase between September 7 and 10, which shows that the market may be accumulating momentum.

Market sentiment and on-chain data
On-chain data provides us with further bearish signals. According to Coinglass data, FTM's long-short ratio is 0.924, which is below 1, indicating that the overall market sentiment tends to be bearish. At the same time, 52% of the top traders hold short positions, indicating that bearish sentiment dominates.

Futures market performance
FTM's futures open interest fell 7.5% in the past 24 hours, indicating that some traders closed their positions due to concerns about potential price declines. In addition, open interest has continued to decrease since September 11, and market sentiment has further tended to be cautious. In terms of funding rate, FTM also showed negative values, reinforcing bearish market expectations.

Operational suggestions
On the whole, FTM is currently in a market stage dominated by shorts. In the short term, investors should pay close attention to the support level of $0.469. If it falls below this level, it may trigger further downward pressure. At the same time, trading volume fell 27% in the past 24 hours, and traders' participation has obviously weakened, which also reflects the market's wait-and-see attitude towards future trends. Please operate with caution.
$FTM
#美降息25个基点预期升温 #美国8月核心CPI超预期 #比特币挖矿难度创历史新高

【Bitcoin Short-term Trading Trend Strategy】🔥

Token Name: BTC
Current Price: $58028.96

📊 Market Sentiment Analysis
News sentiment is mixed, optimistic about Bitcoin's potential to reach $60,000 and long-term growth, but concerns about reduced whale activity.
Expectations for the Fed's interest rate decision are causing market uncertainty.
Overall, market sentiment is slightly positive due to optimistic price predictions and despite political factors.

📈 Technical Analysis
RSI is 52.63, indicating a neutral position, neither overbought nor oversold.
The current price is slightly above the middle Bollinger Band, indicating a possible upward move, but in a narrow range.
MACD shows a bearish crossover, and the histogram is negative, indicating possible downward pressure.
DMI shows a weak trend, ADX is 18.29, and the Positive Directional Index (PDI) is slightly above the Negative Directional Index (MDI), indicating a mild bullish trend.
The order book shows a balanced distribution of buys and sells, with no obvious pressure on either side.
The pivot point indicates that the current price is close to the pivot level, indicating a possible reversal or continuation of the current trend.

💡 Recommendations and Trading Strategies
If the price breaks through the upper Bollinger Band and the pivot resistance, consider holding a long position with a target of $60,000.
If the price falls below the lower Bollinger Band and the pivot support, consider shorting with a target of $57,500.
For short-term trading, monitor MACD and RSI for clearer signals, as current indicators indicate that the market is range-bound.
Due to mixed signals and external market factors such as the upcoming Fed decision, the confidence in the analysis is moderate.

The technical analysis is based on the 1-hour candlestick chart indicator, and users who like short-term trading can refer to it.

Once again, the current market volatility is large, so make a good stop profit and stop loss. The analysis is for reference only, DYOR!
$BTC #美降息25个基点预期升温 #美国8月核心CPI超预期 #比特币挖矿难度创历史新高

🔥Survive September and there will be a surge!

"Just survive September."
Because if history repeats itself, Bitcoin may usher in a wave of consecutive monthly positive growth in the next three months (October, November and December).

Currently, the price of Bitcoin fluctuates around $56,810. According to an anonymous analyst, the average return rate in October has been as high as 22.9% since the birth of Bitcoin. With two exceptions, Bitcoin's closing price in October is almost always higher than its opening price every year. September's performance has been consistently poor, with an average return rate of -5%.

Looking back at history, Bitcoin experienced two declines in October in 2014 and 2018, respectively -12.95% and -3.83%, both of which were bear markets. And now, Bitcoin is in a new round of halving cycle.

Analysts from Rekt Capital said that if Bitcoin continues its usual halving cycle, the peak of the bull market may occur in the second half of 2025. Based on past experience:

In the halving cycle of 2015-2017, Bitcoin reached its peak 518 days after the halving.

And in the 2019-2021 cycle, this process lasted 546 days.

If history repeats itself, the next bull market peak may appear 518 to 546 days after the halving. This means that September to October 2025 may be the new peak of Bitcoin. $BTC

So, after this September, what do you think of the current market situation? #美降息25个基点预期升温 #美国大选如何影响加密产业？ #特朗普哈里斯辩论未提及加密货币

🔥Bitcoin hits 58,000, rebound or reverse?

Technical aspect: Bitcoin fluctuated upward from the lowest 56,646 yesterday, and the highest in the morning reached 58,470. Review of yesterday's market analysis Yesterday's CPI data was lower than the previous value, which triggered higher market expectations for interest rate cuts. The probability of the Federal Reserve cutting interest rates by 25 basis points in September rose to 85%.

Bitcoin chose a strong 15-minute move, and after stepping back on MA170, it directly rose in a wave of positive long positions. In the current market, we observe that the slope of 30-minute MA750 has not flattened, but the price has just stood on MA750, and the overall structure is still in a rebound pattern, and there is no reversal. Pay attention to the details of the changes in the slope of 30-minute MA750 in the future market to predict trading opportunities at the daily level.

Another important point is that the outflow of funds from the spot Bitcoin ETF was 43 million US dollars, breaking the situation of two consecutive days of inflow. This data shows that institutions are not optimistic about the future trend of Bitcoin in the near future and have sold it.

The U.S. Consumer Price Index was released yesterday, with data showing that consumer prices rose 0.2% in August. This brings the 12-month inflation rate down to 2.5%, the lowest level since February 2021, according to CNBC.  

Investors are also watching the Federal Open Market Committee meeting next week, and the CME Group's FedWatch tool shows that the probability of a 25 basis point rate cut by the Federal Reserve is 85%.
$BTC

There are a lot of data recently, so please be cautious. #美降息25个基点预期升温 #美国8月核心CPI超预期 #特朗普哈里斯辩论未提及加密货币

ETH's performance is poor, and V God is busy dating. Can we still expect it in the future?

Ethereum is undergoing a series of important upgrades and developments in 2024, which are aimed at improving the scalability, security and sustainability of its network. Although the token has not performed well, as the second largest coin, Ethereum's growth potential is still the highest outside of Bitcoin.

Ethereum Roadmap: Ethereum's roadmap is a strategic framework for its development, which aims to solve the blockchain trilemma, that is, the balance between decentralization, scalability and security. Through a series of upgrades, Ethereum attempts to overcome its inherent limitations, such as high transaction fees and slow processing speeds during congestion.

Dencun Upgrade: In 2024, Ethereum will focus on the Dencun upgrade, which is the final stage of the Ethereum 2.0 roadmap. Each upgrade contains updates to the execution layer and the consensus layer. The execution layer updates are named after the city where the DevCon conference is held, while the consensus layer updates are named after stars in alphabetical order.

Pectra Upgrade: The Pectra upgrade is an important step in Ethereum's continued evolution, demonstrating its ability to adapt and develop. This upgrade further consolidates Ethereum's leadership in the blockchain field.

The impact of Ethereum 2.0: The technical architecture of Ethereum 2.0 has sparked important discussions about contract capabilities, especially its potential in the field of decentralized finance (DeFi).

Market performance: Although Ethereum is the second largest cryptocurrency in the world by market value, its market performance in 2024 is not as good as Bitcoin, with its value falling by about 35% in the past six months.

Future outlook: Ethereum's development plan for 2024 includes a series of upgrades such as The Merge, The Surge, The Scourge, The Verge, The Purge, and The Splurge, each component targeting a specific area of ​​improvement.

These updates not only help Ethereum solve current challenges, but also prepare for future development, ensuring that it remains competitive in the ever-changing blockchain market. So in the long run, as long as the Ethereum Foundation team continues to do things, coupled with the support of ETFs, it is only a matter of time before it rises. $ETH
#美国大选如何影响加密产业？ #美国经济软着陆？ #以太坊基金会

What do you think of Ethereum? Welcome to discuss.

【Bitcoin short-term trading trend】🔥

Token name: $BTC

Current price: $56762.63

📊 Market sentiment analysis
Michael Saylor predicts Bitcoin will reach $13 million, and market sentiment is optimistic.
SEC warns of the speculative nature of Bitcoin and Ethereum ETFs, and market sentiment is pessimistic.
Bitcoin faces a report of $643 million in outflows and Solana inflows, and market sentiment is neutral.
US Bitcoin ETF funds outflow of $1.2 billion, market sentiment is pessimistic.
The potential impact of Trump's victory on Bitcoin prices, market sentiment is optimistic.

📈 Technical analysis
RSI is 61.71, indicating neutral to slightly overbought.
The current price is close to the pivot point of $56769.84, indicating a possible reversal or continuation of the trend.
The Bollinger Bands show that the price is between the middle and upper bands, indicating moderate volatility.
DMI shows a strong trend, ADX is 38.69, and the positive directional index (PDI) is significantly higher than the negative directional index (MDI).
MACD is above the signal line and the histogram is positive, indicating bullish momentum.
KDJ indicator shows potential overbought conditions, with J value lower than K and D values.

💡 Recommendations and Trading Strategies
Consider going long given the bullish technical indicators, but proceed with caution as market sentiment is mixed.
Short-term trading is recommended as the analysis is based on 1-hour candlestick chart indicators.
Confidence level is moderate as news sentiment and technical indicators conflict.
Take profit based on pivot point at $57045.13 (R2) and stop loss at $56628.59 (S1) are recommended. #美国经济软着陆？ #以太坊基金会 #美国8月非农就业人数不及预期

Technical analysis is based on 1-hour candlestick chart indicators, users who like short-term trading can refer to it.

Once again, I would like to remind you that the current market is volatile, so please set profit and loss targets. The analysis is for reference only, DYOR!

【Bitcoin short-term trading trend】🔥

Token name: $BTC

Current price: $54,403.01

📊 Market sentiment analysis
Amid a slowing U.S. economy, Bitcoin is seen as a potential safe haven, and market sentiment is positive.
Some analysts believe that predictions of a sharp drop to $40,000 are based on fear rather than data-driven.
Although some negative sentiment predicts a possible drop to $31,500, overall market sentiment is mixed with recent positive price action.

📈 Technical Analysis
The RSI is currently at 50.94, indicating a neutral market with no clear overbought or oversold conditions.
The Bollinger Bands show that the price is close to the middle band, indicating a stable market with no significant volatility.
The pivot point is at $54,416.63, and the current price is slightly above that point, indicating potential bullish sentiment.
DMI shows a weak trend, and ADX is 15.92, indicating a lack of strong directional movement.
MACD shows a bullish crossover, with the MACD line above the signal line, indicating potential upside momentum.
KDJ indicator shows a bullish signal, with the K value above the D value.

💡 Recommendations and Trading Strategies
Given the positive MACD crossover and the current price above the pivot point, consider going long.
As market sentiment is mixed and trend strength is weak, short-term trading is recommended.
As technical indicators and market sentiment are mixed, the confidence level is moderate.
It is recommended to take profit at $54,742 (upper Bollinger Band) and stop loss at $54,000 (near the lower pivot support).

Technical analysis is based on 1-hour candlestick chart indicators, and users who like short-term trading can refer to it.

Once again, the current market is volatile, so take profit and stop loss. The analysis is for reference only, DYOR! #美国8月非农就业人数不及预期 #小非农增幅创3年多新低

Token Name: $BTC

Current Price: $54,307

📊 Market Sentiment Analysis
Overall sentiment in the news is negative, with multiple reports highlighting recent price declines and rising investor panic.
The Fear and Greed Index has dropped to “Extreme Fear,” indicating high levels of market anxiety.
Recent news points to a broader sell-off in the market, driven by external factors such as U.S. economic data and the performance of tech stocks.

📈 Technical Analysis
The RSI is 45.60, indicating neutral to slightly oversold conditions, suggesting potential for a price rebound.
The current price is close to the middle Bollinger Band, with the upper band at $55,842 and the lower band at $52,450, indicating moderate volatility.
The MACD shows a bullish crossover, with the MACD line above the signal line, indicating potential upside momentum.
The DMI indicates a bearish trend, with -DI above +DI, but the ADX is strong at 35.81, indicating a strong trend.
The KDJ indicator shows a high J value, indicating a possible overbought condition in the short term.
The moving averages are above the current price, indicating a bearish trend in the short term.

💡 Recommendations and Trading Strategies
Consider going short as the prevailing negative sentiment and technical indicators indicate a bearish trend.
For short-term trading, keep an eye on the price near the pivot point of $54,331 and the resistance levels of $54,381 and $54,455.
Given the strong ADX and negative market sentiment, the confidence in the bearish trend is moderate.
Based on the technical resistance and support levels, it is recommended to take profit at $53,000 and stop loss at $54,500.

The technical analysis is based on the 1-hour candlestick chart indicator, which can be referred to by users who like short-term trading.

Once again, I would like to remind you that the current market is volatile, so please set profit and loss targets. The analysis is for reference only, DYOR!

🔥When will the bull run begin? Be sure to pay attention to these Bitcoin dynamics!

Bitcoin price trends and predictions:
Historically, September has been a challenging month for Bitcoin, and past trends suggest that prices could fluctuate1. Nonetheless, some forecasts suggest that the price of Bitcoin could be between $60,177.78 and $73,513.71 in September 2024.

Looking ahead, Bitcoin is expected to be priced between $99,354.08 and $114,310.60 in October 2024, with an average price of around $106,832.343. This suggests that prices could rise over time.

Analysts have identified a key resistance level at $59,400. A break above this level could lead to a price increase that could reach $100,000 if historical patterns hold.

Market dynamics and impact:
Recent developments have had a significant impact on the Bitcoin market. In July 2024, Bitcoin whales accumulated $5 billion worth of Bitcoin, the largest monthly accumulation since 2014. This indicates that institutional investors have a strong interest in Bitcoin and may influence future price action.

The broader cryptocurrency market is influenced by various factors, including regulatory changes and geopolitical events. For example, North Korean hackers targeted Bitcoin and Ethereum ETFs, prompting an FBI warning.

Technology and Market Innovation:
The cryptocurrency landscape continues to evolve with technological advancements. The rise of Web3, which leverages blockchain, smart contracts, and decentralized oracle networks, is reshaping industries such as finance, gaming, and healthcare. This shift is part of a broader trend of decentralized finance (DeFi), which provides greater access, security, and transparency.

Innovations in blockchain technology, such as interoperability and advances in sustainability and scalability, are facilitating the continued development of cryptocurrencies.

Regulatory Developments:
The regulatory framework for Bitcoin and cryptocurrencies continues to evolve. Recent updates highlight the importance of staying up to date on regulatory changes, as they can have a significant impact on the market.

From this information, we can see that in the long run, it is only a matter of time before Bitcoin breaks through its previous high. Short-term market fluctuations are greatly affected by external market factors. As the market continues to develop, the bull market will eventually come.$BTC

[Ethereum is sluggish, recent developments and trends to watch out for]

Ethereum has experienced a series of important developments and challenges in recent times, all of which have had a profound impact on its market performance and future potential.
1. Network upgrades and technological progress
Dencun upgrade: This is one of the largest upgrades to Ethereum since The Merge, designed to improve the efficiency and scalability of the network.
Ethereum 2.0: By transitioning to a proof-of-stake (PoS) mechanism, Ethereum 2.0 aims to enhance its influence in the decentralized finance (DeFi) sector. However, the PoS mechanism has also raised concerns about validator centralization, as large holders may receive more validation opportunities and rewards.

2. Market performance and economic factors
Price volatility: Ethereum's recent price performance has been poor, mainly affected by falling network fees, lack of attractiveness of staking rewards, and weak demand for spot ETF products.
Macroeconomic impact: Possible interest rate adjustments by the U.S. Federal Reserve have also had an impact on Ethereum's market performance, and investors' concerns about a recession may lead to increased demand for safe-haven assets, putting pressure on Ethereum prices.

3. Network Fees and Sustainability
Falling Network Fees: Ethereum network fees fell to their lowest level in more than four years at the end of August, posing a threat to the network's long-term incentive mechanism. While this may reflect the successful adoption of Layer 2 scaling solutions, it also raises questions about long-term network security.

4. Decentralization and Regulatory Challenges
Decentralization Challenges: Ethereum faces technical and regulatory challenges in its efforts to achieve true decentralization. Although the U.S. Securities and Exchange Commission (SEC) decided not to take direct legal action against Ethereum, discussions around centralization continue.

5. Future Outlook
Technological Innovation: Ethereum is exploring new concepts such as "rainbow staking" to enhance its adaptability and fight centralization. These innovations are expected to improve the efficiency and competitiveness of the network.
Market Expectations: Despite the challenges, Ethereum's future in the DeFi and blockchain ecosystem is still optimistic. Through technological progress and a continued commitment to decentralization, Ethereum has the potential to continue to maintain its position as an innovator in the future.$ETH
#加密市场急跌

What do you think about this, brothers?

【$230 million! WLD is about to unlock a huge amount, pay attention! 】

According to Token Unlocks data, the Worldcoin project is about to unlock more than $230 million worth of token supply in September, which will be its largest unlocking event ever. With such a large amount of new supply entering the market, if demand cannot be matched, WLD prices may face severe downward pressure.

📉 $WLD
Since hitting an all-time high of $11.74 in March, WLD prices have plummeted by nearly 90%. Multiple unlocking events and market adjustments have kept the tokens going lower. Data shows that WLD's price shows a clear inverse relationship with its circulating supply, which means that more supply may further depress prices.

💡 On-chain indicators reveal potential risks:
WLD has a market value of approximately $587 million, but a fully diluted valuation of up to $14.5 billion, and a large number of unlocked tokens may become a major hidden danger for future prices.

According to Santiment data, the average loss of addresses that purchased WLD in the past 180 days exceeded 35%, while data from IntoTheBlock shows that more than 95% of WLD holding addresses are currently in a loss state.

🌐 WLD is currently trading at $1.5, which has returned to the level of October 2023. As the unlocking date approaches, everyone needs to pay close attention to market trends in the next few weeks.

Be cautious when opening contracts. The project party may mess up again. What do you think? #WLD​​​ #AI板块强势进击 #非农就业数据即将公布

【Bitcoin Short-term Trading Trend Strategy】🔥

Token Name: $BTC

Current Price: $58,341

📊 Market Sentiment Analysis
According to Santiment, the sentiment of large investors (whales and sharks) accumulating BTC is positive.
The sentiment of legal cases involving Bitcoin loans is neutral and will not directly affect market dynamics.
The sentiment of recent price declines is negative, and there are concerns that a further correction to $56,000 may occur.
The sentiment about the end of the old halving cycle is neutral, indicating a shift in market behavior.

📈 Technical Analysis
The RSI is 40.9, indicating a neutral to slightly oversold state, indicating a rebound potential.
The current price is below the middle track of the Bollinger Band (58720.75), indicating a bearish trend, but close to the lower track (58053.40), which may play a supporting role.
The pivot point shows that the price is close to the pivot level (58281.41), with resistance at 58435.84 and support at 58192.57.
DMI shows a strong bearish trend with ADX at 30.42 and MDI (31.20) significantly above PDI (11.13).
MACD is negative with a bearish histogram, indicating downward momentum.
KDJ indicator shows a slight upward trend in K value, indicating a possible reversal in the short term.

💡 Recommendations and Trading Strategies
Consider shorting as bearish indicators are prevalent, but be cautious to keep an eye on potential support near the lower Bollinger band.
Given the current market volatility and technical indicators, short-term trading is recommended.
Given the mixed signals from RSI and KDJ, the confidence in the bearish trend is moderate.
Based on the technical support and resistance levels, it is recommended to take profit at $58,000 and stop loss at $58,500.

Technical analysis is based on the 1-hour candlestick chart indicator. Users who like short-term trading can refer to it.

Once again, the current market is volatile, so make sure to stop profit and stop loss. The analysis is for reference only, DYOR! #美联储何时降息？ #美国CPI数据连续第4个月回落

🔥【INJ is very good! The supply reduction proposal is coming! 】

The Injective ecosystem has released the IIP-429 governance proposal, which has now entered the voting stage. The core goal of the proposal is to dynamically reduce the supply of $INJ to make it a more deflationary asset. If this proposal is passed, $INJ will become one of the most scarce and precious crypto assets on the market.

The background of the proposal stems from the Injective Improvement Proposal IIP-392, which was passed by the community earlier, which is an important part of the INJ 3.0 token economic upgrade. IIP-429 proposes to adjust the blocksPerYear inflation parameter to 63,072,000 to more accurately reflect the current block generation speed. This move will effectively reduce the inflation rate of INJ, thereby increasing its long-term value.

From my point of view, this adjustment is not only a major improvement in the token economy of the Injective project, but may also provide a reference example for other crypto projects. By continuously optimizing inflation control, Injective is expected to further consolidate its position in the market in the future and bring greater confidence to holders.

Now, INJ stakers and validators will have 4 days to vote on this key proposal. Every vote of the community will directly affect the future development direction of INJ. Everyone who has voting rights can vote now. $INJ
#美联储何时降息？ #Injective #INJ

[Funds in the crypto market continue to flow out, and a new round of crash may be brewing]

Bitcoin prices fell below $60,000 as market uncertainty triggered massive outflows. On August 29, Bitcoin and Ethereum spot ETFs experienced net outflows, totaling $71.73 million, with the Grayscale Bitcoin Trust having the largest outflow, reaching $22.68 million.

Despite significant market volatility, some ETFs continue to attract investor attention. For example, Ark Invest and 21Shares ETFs saw combined inflows of $5.34 million, showing that there remains positive investment demand.

On the other hand, the Ethereum spot ETF also came under pressure, with net outflows reaching $1.77 million. Grayscale Ethereum Trust saw $5.35 million in outflows, but its mini-ETF version attracted $3.57 million in inflows.

Overall, the Bitcoin spot ETF’s total NAV is now $54.36 billion, while the Ethereum spot ETF’s total NAV is $7.03 billion. These data reflect the current market instability and its impact on investor behavior. $BTC
#英伟达财报 #以太坊基金会 #美联储何时降息？

There is currently no big good news, but there are various on-chain transfers of large funds. Please proceed with caution.

🔥【Bitcoin Today Trading Trend Strategy】

Token Name: $BTC

Current Price: $59175

📊 Market Sentiment Analysis
News show mixed market sentiment, with some optimistic about BTC, believing it could enter a parabolic phase, while others warn of a potential price drop.
Ark Invest's major sell-off triggered market volatility, but BTC prices recovered quickly, showing the market's resilience.
The NVT Golden Cross indicator sends a warning signal, which may foreshadow a local high or low in price.

📈 Technical Analysis
The RSI indicator is 42.44, close to the oversold area, indicating that there may be a rebound opportunity.
The Bollinger Bands show that the current price is close to the middle track and slightly below the middle track, indicating that the market may be in a consolidation state.
The DMI indicator shows that the negative momentum (MDI) is higher than the positive momentum (PDI), and the ADX is 30.15, indicating that the current market trend is weak.
The MACD indicator shows a negative value, and the MACD line is below the signal line, indicating that there may be downward pressure in the short term.
The K and J values ​​of the KDJ indicator are both lower than the D value, indicating that the market may be oversold.

💡 Recommendations and trading strategies
It is recommended to wait and see in the short term and wait for clearer market signals.
If the price breaks through the middle track of the Bollinger Band and is accompanied by an increase in trading volume, a short-term long position can be considered.
Considering the mixed signals of market sentiment and technical indicators, short-term traders are advised to remain cautious.
The stop loss can be set near the lower track of the Bollinger Band (about $58,678), while the profit target can be set near the upper track of the Bollinger Band (about $60,901).

The technical analysis is based on the 1-hour candlestick chart indicator, and users who like short-term trading can refer to it.

Once again, the current market volatility is large, so do a good job of stop profit and stop loss. The analysis is for reference only, DYOR!