$BTC Bottom Formation Situation:

From the 30-minute indicator, we can see: support is at 118500-119000, and currently, the 30-minute indicator has not formed a signal for a stop or reversal, so we need to wait for the bottom formation situation.

The 1-hour Bollinger lower band support is at 118500, and indicator analysis shows a probability of stopping the decline and turning to an increase.

The 4-hour support at the Bollinger middle band is at 118200, pay attention to the changes between indicators, there may be an opportunity for a stop and reversal.

In summary: for this type of market, with strong support in place, short positions should not be taken, and regarding long positions, we should first wait for the bottom formation situation. Once the 15-minute indicator connects with the 30-minute indicator indicating a bullish analysis, we can enter long positions.

Looking at the daily chart, compared to the hammer candle at the top of the 714k line, that time was a consumption of bullish energy, while this time it is a consumption of bearish energy. Additionally, the MACD is in the budding stage of a golden cross above the zero line, combined with the weekly indicators, the overall trend remains bullish. As for whether there is a possibility of a trend reversal leading to a downward trend, currently there is no sign of that.

However, the current bottom formation situation is very important, keep an eye on the short-term indicators, after all, the BTC price is at a high level, it’s not that we are afraid of rising, but we fear a trend reversal and a crash. Usually, everyone is carefree, but now we must not be careless. #比特币回调