Analytics

BTC: The Overall Market Is Expecting The Bears

BTC consolidated in a narrow range yesterday. The trading volume was small, and the market sentiment was low because of the end of the year (holiday season). The bulls failed to form an effective counterattack situation. It can be seen that the bulls are still very weak.
It is expected that the first phase of this time will reach the range of $7,000-$7,080 points, and it is expected that the price will fall below 7000 points in the next three trading days.

Many people are still going long with the illusion of halving the market. It must be very uncomfortable at this time. I have to say we should focus on the moment, many big names and well-known blockchain experts have said Bitcoin will rise to $ 100,000. But no one knows what time it will be. The market is not expecting the bulls, no new capital investment, no hunger demand, it is difficult to get price support.

Looking at the four-hour Bollinger Bands , the price is in the middle and lower rail of the Bollinger Band , and the Bollinger Band opening is downward, indicating that it may continue to explore, but there is not much space for the bears, and the short volume can obviously be insufficient.
MACD continues to run under the zero.
he RSI is distributed upward at the 44 levels, the KDJ indicator is distributed downward, and the weekly level shows signs of stopping and stabilizing.

Key Points:
Short: $7,300
Stop loss: $7,350,
take profit: $7,100-$7,050;

Entry: $7,000
take profit:$7,200
Stop loss: $6,900

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