Bitcoin continues its shrinking consolidation trend, moving in the range of $7,100–7,400 USD. The lowest was down to around $7,100, which directly broke the lower rail support level.
From the 4-hour line, the Bollinger Band is trending downward. MACD has emerged from the bonding state. A dead fork has formed. Both KDJ and RSI are turning their heads. At present, there is no support at the bottom. The MA60 is under heavy pressure at $7,450, which is subject to the short-term pressure of the $7,330. This line is also the short-term pressure level of the Bollinger Band.
Based on the current trend analysis, the trading ideas can be shorted between $7,400-$7,500, and the $7,100-$7,200 go long(not recommend). There is also enough operating space to control the opportunity within the interval. I believe it will keep going down below $7,000 in the next few days. manage your risk.
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