$BTC Market Analysis | Key Intersection, Direction Will Be Determined
The price of Bitcoin dropped again last night, hitting a low of 109800,
falling all the way down from 115350, this wave of decline is indeed fierce.
The market has now reached a critical junction.
From the daily structure, the MA60 long-term resistance line still looms overhead,
MACD momentum is still bearish, indicating that the medium-term trend remains weak,
the market likely needs more time to build a bottom.
On the short-term level (4-hour chart) it is even more evident—
there are rebounds, but the strength is weak, the main players have not truly entered.
To completely reverse the downward trend, there must be a substantial volume bullish candle,
strongly breaking through the MA30 short-term resistance line, to talk about a counterattack.
【Trading Suggestions | Personal Market Sentiment】
📈 Short-term Buying Range: 110600–111100
Target towards 113200–113650, stop loss below 110200;
this area can be used to bet on rebounds, light positions can be tested.
📉 Short Selling Range on Rebound: 115600–116000
Target towards 112600–111900, with a defense at 116500.
If the rebound does not exceed the resistance level, the trend of shorting remains the main line.
As the market has reached this point, sentiment is more important than technicals.
Don't rush to catch the bottom, nor be blindly pessimistic.
110600 is the defensive "line of life and death", holding it allows for rebound space,
breaking it means preparing for a deeper round of adjustment.
🔥 Today's Focus: $BNB｜$COAI
Both have active funding, if the market stabilizes, they may lead the sentiment recovery.