Yesterday, before the news came out in the evening, we discussed that the outcome of the long and short positions had been determined, and we expected the market to rise. Then the market fell all the way down, only to rebound after the news was released, resulting in a long lower shadow line yesterday, which aligns with our prediction of a market rise. Meanwhile, today Bitcoin's performance is strong, having already broken through the previous high, so we believe the moment for the bulls to counterattack has arrived.
From the MACD perspective, there hasn't been much change in volume over the past two days, alternating between bullish and bearish, but the price of the coin has genuinely risen. At the same time, the slow line has crossed above the zero line, and everything is moving in the direction of the bulls, so there is no reason to be bearish here.
From the CCI perspective, with today's upward movement, the CCI has reached around 60, having moved away from the zero line area, so we are more inclined to see further upward movement here.
From the OBV perspective, the fast line is currently firmly above the slow line, and the slow line we have been emphasizing has also turned upward, so we continue to maintain a bullish outlook.
From the KDJ perspective, it has now entered the overbought area, and the market is still maintaining bullish sentiment. To see a bearish trend, we first need to see the KDJ turn downward.
From the MFI and RSI perspective, the MFI has been in the overbought area for nearly a week now, and the two declines during this week have not caused the MFI to drop, indicating that the market is still very strong, with the RSI also in a strong area.
From the moving average perspective, the 60-line has provided support for the market for six consecutive days, forming effective support. Additionally, the 30-line we have been emphasizing has also started to turn upward, indicating a bullish outlook on the moving averages.
From the Bollinger Bands perspective, with today's surge, the upper and lower bands have started to move in sync. The concerns we had about potential manipulation have been alleviated. Currently, both the upper and lower bands are moving upward, with the possibility of developing into an upward channel. For the market to move into an upward channel, we need consecutive bullish candles to form, with a few small bearish candles in between not affecting the trend, and the bullish candles should not be too large, ideally not exceeding 1%.
In summary: The market's performance is generally within the range we predicted, and we continue to expect a bullish trend, although it may take the form of small incremental movements upward. Today's target for the bulls is to close with a bullish candle of around 0.5%. The support below Bitcoin is at 116200-115100, and the resistance above is at 118200-119000.
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