Academician of the Cryptocurrency Circle: The Bitcoin (BTC) tug-of-war on September 12 is not the end. Is there a hidden trend in the fluctuating market? Latest market analysis and operational advice interpretation

The current price of Bitcoin is 78700, fluctuating back and forth, causing a collapse in mentality. There are quick dives after highs, and rapid rebounds after dips. Both bulls and bears are repeatedly sweeping losses, and many friends are chasing trades back and forth, causing their accounts to shrink further. This is how the market works, during a large-scale high-level fluctuating phase, the worst thing is to chase and kill prices. I left the market around 76800 after a short-term downward movement, but those who held positions below 67000 have been holding for more than a month. How many fellow coin friends have followed me to persevere until now?

The daily K-line retraced to stabilize and rebound above the 78.6% Fibonacci support at 72620. The EMA15 and EMA30 moving averages remain in an upward arrangement, and the medium-to-long-term trend has not completely deteriorated. The MACD indicator's red bars continue to shrink, with the DIF crossing below the DEA forming a dead cross, indicating that bullish momentum is gradually weakening. The Bollinger Bands are narrowing, with the upper band at 80911 and the lower band at 76408, the market is compressing and oscillating within the channel. From a daily perspective, it belongs to a consolidation phase after an upward trend, with strong resistance above at 80400-82280 and key support below at 76400. If this position is broken, the structure of this round of rebound will further weaken.

The four-hour K-line quickly rebounded after touching support around 76947. The EMA15 and EMA30 moving average system is intertwined and flattening, with short-term bullish and bearish forces tending to balance. The MACD has turned upward below the zero axis, with the green bars shortening, indicating a need for bullish correction in the short term. The Bollinger Bands are also narrowing, with the upper band at 79617 and the lower band at 76487, the price has returned to near the middle band of the Bollinger. The Fibonacci 78.6% position at 77521 becomes an important short-term support; as long as this position is held, the four-hour level will continue to oscillate back and forth in the range. Once it breaks down, the market will test the support at 74460 again.

Short-term references

Rise from 77500 to 78000, stop loss at 500 points, target at 79600 to 81000

Fall from 79800 to 80300, stop loss at 500 points, target at 79000 to 78000

Specific operations depend mainly on real-time market data. For more information, you can consult the author. There may be delays in article publication, so advice is for reference only and risk is to be self-borne.

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