Bitcoin market:
Today's market may be boring. Bitcoin's current oscillation position is the same as the previous two oscillations and declines. The price remains at the midline of the daily Bollinger Band. The midline is basically ineffective as support or resistance in the face of oscillation. In such a critical position, it is sideways, which makes the market's long and short sentiment complicated.
The upper resistance is still the weekly EMA7 66,200 and the daily Bollinger Band upper line 67,300.
The lower support is the daily midline 63,500. At present, whether it is a short-term resistance or support, the basic effect is unsatisfactory.
The support that can be seen below, the integer level of 60,000 will activate some buying volume, and the 61,200 gold support can be used as a buffer during this period.
It should be noted that the 4-hour Bollinger Band has basically shrunk to 1400 points from 2100 in the early morning. The tightening of the Bollinger Band amplitude also indicates that there will be a breakthrough in the short term in terms of technology. It should be noted that the current price of Bitcoin is at the 4-hour lower track. If it breaks upward and successfully breaks through the 4-hour middle line, the short-term bullish sentiment will take advantage. On the contrary, if it breaks through the lower line of the Bollinger Band downward, it may have to test the support situation.
At present, the lower line support of Bitcoin in 4 hours is 63,000. The current price is close to the lower limit support, and the risk of breaking through is greater.
The RSI relative strength index has fallen back to around 55, which is temporarily in the neutral sentiment stage and has little impact.
