Analytics

BTC Will Not Be Particularly Volatile Even If It Rebounds

In the 4 hour chart, based on the current short-term technical indicators we can’t just follow the direction of the bears. It seems that the strength in a wave of falling was not weak yesterday and MA5 had signs of turning heads up. Currently, it was stuck in the dead gold fork.

Now the Kline has successfully stabilized above the MA5 and MA10. And the short-term moving average succeeds in sticking gold forks up. MACD’s long column increased then we can expect a bull trend.

In theory, there is room for a rebound in the short term. However, the Bollinger Band is now flat, and even if it rebounds, the market will not be particularly volatile.

My Suggestions for short term

Short: above any point above $8,850, stop-loss $8,950, the target sees the $8,600-$8,650

Long: If the price falls to 8600 again, don’t take the risk to try to buy more. then the trend of fallings will be continuous and the $8,400 might be touched. The entry point can be $8,400 and below. Stop-loss $8,250, take profit at $8,600-$8,670

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