The four-hour timeframe appears to be stabilizing and rebounding, but in reality, it is still constrained by the MA144 and MA169 medium- to long-term moving averages. The previous high of 72300 forms a key resistance level above, making it difficult for a significant breakout to occur. The KDJ indicator is approaching overbought territory, and the three lines are turning downward, increasing the risk of a decline. Although the MACD red histogram remains expanding, the momentum is clearly diminishing. Focus on whether the 70000 support level holds; a breakdown could lead to further declines toward the 65000 range.
Personal advice, for reference only (strictly set stop-loss) Bitcoin around 71300, buy on dips to 72300, target 69800, 68000$BTC
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2.9 Monday Bitcoin Analysis
The four-hour timeframe appears to be stabilizing and rebounding, but in reality, it is still constrained by the MA144 and MA169 medium- to long-term moving averages. The previous high of 72300 forms a key resistance level above, making it difficult for a significant breakout to occur. The KDJ indicator is approaching overbought territory, and the three lines are turning downward, increasing the risk of a decline. Although the MACD red histogram remains expanding, the momentum is clearly diminishing. Focus on whether the 70000 support level holds; a breakdown could lead to further declines toward the 65000 range.
Personal advice, for reference only (strictly set stop-loss)
Bitcoin around 71300, buy on dips to 72300, target 69800, 68000$BTC