Bitcoin (BTC)
 

1. K-line chart analysis

Daily level:

  • K-line pattern: The recent K-lines have shown a clear downward trend, especially the last K-line has formed a long lower shadow, indicating that the market has certain buying support at the low point.

  • Bollinger Bands: The current price is running between the middle and lower tracks of the Bollinger Bands and is close to the lower track of the Bollinger Bands, indicating that the downtrend may be coming to an end and there is a possibility of a rebound.

  • Moving average system: The short-term moving averages (MA5 and MA10) are crossing downward, and the medium-term moving average (MA30) is also gradually flattening, which shows that the current market is in a period of adjustment and may continue to fluctuate downward in the short term.

  • Volume：The trading volume in recent days has increased significantly, indicating that the market selling pressure is relatively large, but judging from today's trading volume, there may be a rebound after the large-scale decline.
     

2. Combine more technical indicators

Relative Strength Index (RSI):

  • The RSI is around 30, close to the oversold zone, suggesting that there could be a rebound in the short term.

Moving Average Convergence Divergence (MACD):

  • The MACD fast and slow lines are running downward, but have not yet formed an obvious bottom divergence, indicating the possibility of further downward movement in the short term.

Commodity Channel Index (CCI):

  • CCI is currently around -100, showing that market sentiment is bearish, but there are also certain rebound opportunities.

3. Operation strategies and key points

Operation direction:

  • In the short term, the market may rebound to a certain extent, but the overall downward trend has not changed. It is recommended to mainly short at high levels and make appropriate arrangements for the rebound at low levels.

Key points:

  • First support level: $60,000 (psychological support level)

  • Second support level: $58,500 (near the lower Bollinger Band)

  • Pressure level: $64,000 (the middle track of the Bollinger Band and the short-term moving average suppression area)

Stop Loss:

  • It is recommended to set the stop loss at $65,000 to avoid the risks brought by a sharp market rebound.

4. Yesterday's direction and today's forecast

Yesterday’s direction review:

  • The market saw a significant decline yesterday, which was in line with previous forecasts, and the downward trend was quite obvious.

Today's forecast:

  • It is expected that the market will fluctuate in the range of 60,000-64,000 US dollars today. There is a high possibility of rebound, but the rebound range will be limited.

  • Investors are advised to64,000 Short on rallies near the US dollar, and gradually take profits near $60,000, with a stop loss set at $65,000.
    First Zhiying：60,000  

  • Second place: 58,500

  • Stop Loss: 65,000
    The crypto market is ever-changing, with technical aspects and market sentiment intertwined. Do you want to get more real-time market analysis and operation strategies? Combine technical aspects and market sentiment to make flexible response strategies.

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