Analytics

BTC: The Bearish Trend Is Still Dominant And Focuses On $8,000

BTC

Friends who didn’t have a short order for Bitcoin yesterday can still hold it. If the price doesn’t go below $8,000 points, there is still a chance to close your position. I can expect the bearish trend in the long run.
On the 4 hours chart, the Bollinger Band has an outward opening attitude and the current trend is in the lower rail position. MACD both DIF and DEA are going upward, there will be a small rebound in the follow-up. After the Kline rebounded slightly, it received the resistance of $8,150. ST indicator shows there are no funds to enter the market.
However, MA5 and MA10 will be close to the line and run near the market. Once the bonding is successful, it is almost impossible to rebound too high in the short term, and the down channel will be opened again.
To sum up: the bearish trend is still dominant In the short term. the operation is mainly based on $8,000-$8,250 this interval.

Key points:
Entry: $8,000-$8050
Take profit: $8,150
short: $8,170-$8,220
Take profit: $8,000

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