BTC Analysis and Review

Today's Bitcoin Market Analysis

Market Review:
Yesterday's strategy suggested shorting at 109,010 and adding positions around 110,010. The market rebounded to a high near 109,510 in the morning yesterday before starting to fluctuate and decline, reaching a low of 107,210 before beginning to rebound. During this period, the price remained in a small range consolidation between 108,610 and 108,010.

4-Hour Technical Analysis:
Bollinger Bands: The opening is narrowing, and the current range is 107,484 - 109,179. The middle line (108,340) is running horizontally. After a price drop last night that touched the lower Bollinger Band, a rebound occurred, and it is currently testing the pressure of the middle line.
Moving Average System: Shows signs of conversion from a bullish arrangement to a slight bearish arrangement. The 5-day moving average and the 10-day moving average form a death cross and are running downward.
MACD: A small death cross is forming and moving downwards, with bearish volume beginning to slowly release, indicating an overall trend that is biased towards a fluctuating downward movement.
RSI: After the death cross, there is a trend of forming a small golden cross with a second crossover, but it is still in the oversold area, indicating a possible slight rebound.

Conclusion:

Overall direction: sideways fluctuation, slightly biased towards a small upward movement.
Key resistance: 108,810
Key support: 106,810
Current trend: After a decline, there has been a slight rebound, and it has now entered a stage of consolidation.
Short-term range: The expected consolidation range is 107,910 - 108,310.
Short-term expectation: overall leaning towards a slight rebound, with a trend to test the upper range of 108,510 - 108,810. If the price can hold above 108,310, it is expected to test 108,510; if it fails to effectively break through this resistance, a pullback may occur.
Morning Outlook: Prices are expected to fluctuate within the range of 107,8010-108,610. #BTC