Family! The BTC strategy for October 12th is here! A must-read for beginners.
The current 15-minute chart of BTC shows a high-level contraction and consolidation. The price is stuck around 92600, with a clear resistance at 93739 above and support at 91219 below. Recently, the K-line amplitude has been very small, with both bulls and bears observing, and the market is in a state of waiting for direction.
From the perspective of trends and momentum, the short-term trend is slightly strong but has shown signs of fatigue. Regarding market sentiment, tonight's US CPI data and Federal Reserve meeting may disrupt this balance.
Resistance Levels
First Resistance: 93200 - 93500
This is the area where recent small highs and the EMA(7) moving average extend. To maintain an upward posture, the price must first stabilize here.
Core Resistance: 93739 - 94000
This is the upper Bollinger Band and the recent absolute high point. Without a significant positive volume, it will be very difficult to break through in one go.
Support Levels
First Line of Defense: 92300 - 92500
This is near the EMA(7) moving average and today's opening price.
Core Defensive Zone: 91200 - 91500 area
This is a strong double support where the EMA(30) moving average and the middle Bollinger Band coincide.
Today's market is likely to have two scenarios. One is to continue the oscillation, fluctuating within the 92500 - 93500 range, waiting for news to choose a direction; the other is to break through based on news, with positive news leading to a volume-driven breakout above 94000, and negative news causing a drop below 91500, accelerating the adjustment.
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