Waves in the Cryptocurrency Sea: 1.7 Bitcoin (BTC) Market Analysis Reference:

Last night, Bitcoin began its expected pullback to test the lower support. Early this morning, after touching the low of 91200, it stopped falling and rebounded. As of now, the price is around 93200, and the overall trend aligns precisely with previous analyses. Observing the daily candlestick chart, the daily Bollinger Bands are expanding, and the current price is at the upper band. The EMA short-term moving averages provide key support, while the KDJ is still in the overbought zone, indicating that short-term bullish momentum has been overextended, creating a need for a pullback correction; however, the MACD volume bars continue to expand, and the dual lines are trending upwards, suggesting that medium to long-term bullish momentum is still being released, and the trend has not fundamentally reversed.

The 4-hour level shows a fluctuating characteristic: the price has retreated from the upper Bollinger Band, the MACD has turned negative with the fast and slow lines forming a death cross above the zero axis, and the EMA short-term moving averages have turned downwards for correction; meanwhile, the KDJ indicator is contracting, and the RSI three lines are trending downwards, indicating a need for a pullback. Attention should be paid to the effectiveness of the middle band (92500) support.

At the 1-hour level, the price has rebounded from the low of 91200, showing a series of upward candles; it has currently broken through the middle band resistance of the Bollinger Bands. The KDJ has formed a golden cross at a low level and continues to diverge upwards, while the MACD value has turned positive, with the DIF and DEA showing an initial golden cross below the zero axis, but the RSI three lines are trending downwards. If the price cannot effectively stabilize above the middle band of the Bollinger Bands, it is likely to test the lower band. Attention should be focused on the short-term support range of 92000-91200 USD, which is both the intraday pullback low and a key defensive level at the lower edge of the ascending channel. If this level is effectively defended, the rebound trend may continue.

Waves in the Cryptocurrency Sea: 1.7 Bitcoin Short-term Reference:

Long Position: Buy in the range of 91000-92000, with a stop loss at 90000, targeting 92500-93500.

Short Position: Sell in the range of 94500-95500, with a stop loss at 96000, targeting 93500-92500.

Waves in the Cryptocurrency Sea: 1.7 Ethereum Short-term Reference:

Long Position: Buy in the range of 3175-3205, with a stop loss at 3100, targeting 3200-3285.

Short Position: Sell in the range of 3320-3350, with a stop loss at 3450, targeting 3300-3200.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and the strategies may not be timely. Do not operate blindly!】

This content is originally shared by 【Waves in the Cryptocurrency Sea】 and represents personal opinions. The article may have delays in sending and is for reference only; do not operate blindly! If you want to get more real-time trades daily, follow my public account. Here, you can engage in online technical learning and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the major trends in the cryptocurrency space. I mainly analyze and guide investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. Welcome to study and research together.

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