Although the trend of BTC broke through the $7,300 yesterday, it failed to stabilize in the area above it after a brief decline. The bulls continued to be suppressed, and the price stopped all the way to around 7000 before being stopped.
The insufficient rebound has been suppressed for many upward tests, and the price has been kept above $7,000, leaving opportunities for subsequent price increases.
Recently, the bulls have launched an offensive upward, and the price has approached the $7,200 all the way but was then suppressed by the upward resistance, and the price is shocking at $7,150.
On the 4-hour chart, the price currently fluctuates near the upper rail of the Bollinger Band. The MACD in the drawing maintains an upward volume attitude below the 0 axis.
Although the trend is in the area above the middle rail of the Bollinger Bands, the situation is under pressure, and the overall trend is still a volatile market.
On the whole, the market calms down and the plunge has ended.
Since the market failed to break, in theory, the late market is more dominated by rebound correction.
focusing on the $7,050–$7,350 range
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