Technical analysis shows that the coin price has currently broken below the short-term upward trend line, with dual resistance from the 5-day and 10-day moving averages. The MACD indicator is showing a death cross pattern with green bars continuing to expand, and the RSI indicator has dropped to about 42, officially entering the weak zone.
On the 4-hour chart, although the price touched the lower Bollinger Band at 89262 and rebounded, the volume during the rebound was clearly insufficient. Meanwhile, the Bollinger Bands are narrowing, and the moving average system above is densely arranged, forming strong resistance to the price. The rebound is unlikely to sustain.
Bitcoin: Around 91000-91500, with a rebound at 92000, and a downside target of 90200-89000$BTC
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Technical analysis shows that the coin price has currently broken below the short-term upward trend line, with dual resistance from the 5-day and 10-day moving averages. The MACD indicator is showing a death cross pattern with green bars continuing to expand, and the RSI indicator has dropped to about 42, officially entering the weak zone.
On the 4-hour chart, although the price touched the lower Bollinger Band at 89262 and rebounded, the volume during the rebound was clearly insufficient. Meanwhile, the Bollinger Bands are narrowing, and the moving average system above is densely arranged, forming strong resistance to the price. The rebound is unlikely to sustain.
Bitcoin: Around 91000-91500, with a rebound at 92000, and a downside target of 90200-89000$BTC