Yesterday's Market Recap:
Yesterday's intraday analysis clearly indicated that the resistance level was around 90500, which had been touched and subsequently pulled back multiple times. Last night, BTC reached a high of 90574, precisely hitting the resistance level. After selling, the price dropped to a low of 87800 in the early morning, resulting in a conservative profit of approximately 2700 points.
Today's Market Analysis: After yesterday's sharp drop of 2700 points, there was a slight rebound of about 1000 points this morning in Asia. Currently, it is still fluctuating within the 86000-90500 range. The key resistance level to watch is 90500. If a short-term rebound reaches the 90300-90000 range and fails to break through, consider selling. If it breaks through, look for a further sell opportunity around 91000. On the downside, watch the trend support at 86000. If a pullback to the 86000-86300 range holds, consider buying. If it breaks through, look for a further buy opportunity around 84500.
Technical Analysis:
The daily Bollinger Bands are narrowing, and after a series of positive days, a doji candlestick pattern formed at the high, indicating a clear reversal signal. The price tested the 90000 psychological level before encountering resistance and falling back, suggesting a short-term bearish trend.
The middle Bollinger Band and the 30-day moving average (MA30) are forming a confluence of resistance around 89500, with the lower Bollinger Band at 85300 as the target.
On the 12-hour chart, the middle Bollinger Band and the 10-day moving average (MA10) are forming support around 88000. A break below this level could lead to a further decline to 85800.
On the 2-hour chart, after last night's high-level spike, a green 9 signal appeared in the TD indicator, indicating a short-term drop of 2700 points. If the Bollinger Bands continue to widen, there is still room for further decline.
In summary, the intraday strategy is primarily to sell on rallies, with buying on dips as a secondary approach.
Trading Strategy:
1️⃣ Sell in the 90300-90000 range, with a target of 88500-87000 and a stop-loss at 90800.
2️⃣ Buy in the 86000-86300 range, with a target of 87500-89000 and a stop loss at 85500.
