BTC Market Analysis and Operational Suggestions: Bitcoin Falls into a Slow Rising Pattern Again
[BTC morning market analysis]
After BTC tested the 10526 line yesterday, the market went in a volatile upward trend. The price hit the 10680 line in the morning and was under pressure. At present, the currency price remains below 10700.
Looking at the daily line level, the Bollinger Bands are closed and running. After the currency price broke down the support of the middle rail position of the Bollinger Bands yesterday, it finally closed and retracted again. The currency price has always remained above the middle rail within the day! However, the currency price has not shown a strong upward trend at present, and the 5-day and 10-day moving averages are currently in sideways trading around 10660. Looking at the indicators in the attached picture, the MACD double-line bonding is flat near the bottom of the 0 axis, and the RSI is currently also trading sideways near the 50 level!
On the 4-hour chart, the upward movement of the currency price in the early morning breaks the suppression of the middle rail, and it is under pressure after touching the 60-day moving average. The current currency price is fluctuating in a narrow range around 10650! The trend of the Bollinger Bands is gradually flattening, and the 5-day moving average is currently hooking up, intersecting with the 10-day moving average and the middle rail of the Bollinger Bands to support the currency price around 10630!
On the whole, the current trend of BTC is still in a range-bound pattern, and Yunfeng still recommends high-altitude operations in the market outlook in the next day! However, the price range of the currency shows signs of being gradually compressed. In the future, we still need to beware of the currency price breaking out of the position. Therefore, it is recommended to strictly stop the loss in the market outlook. The upper suppression focuses on the 10700-10750 line, and the lower support focuses on the 10600-10550 line!
[Suggestions for BTC morning operation]
10700-10750 is empty, the target is 10600-10550, break the position and continue to hold!
