Bitcoin news landing, the long-short game escalates! Strictly adhere to discipline, operate rationally
The current price of Bitcoin is around $93,700, at 4:40 AM Beijing time. The market is focusing on the 25 basis point decision, which has landed as expected and is completely in line with market expectations. From the performance of the market, the favorable news did not lead to the expected surge; instead, it showed a stable running trend, which also confirms the trend characteristic of 'favorable news being fully digested'—the key resistance level for bulls at $94,200 is still under pressure. Prior to the news landing, decisive profit-taking was the best embodiment of the trading principle of 'stability first, safety foremost'.
From the daily K-line trend analysis, before publication, the highest price touched $93,300, and the lowest dropped to $91,500, accurately testing the EMA30 trend resistance level of $93,300. Technically, it is important to focus on the key pressure level of the golden ratio 0.618 at $94,200; the MACD indicator continues to show an expanding upward trend, with the DIF and DEA lines synchronously spreading upward steadily, gradually approaching the zero axis; regarding the Bollinger Bands, the upper resistance level is seen at $94,650, and the middle support level is referenced at $89,700. In summary, the intraday trading approach is mainly to short at high levels and wait for the market to stabilize at the lower support before looking for opportunities to place long positions.
Switching to the 4-hour K-line cycle, the market has formed a standard flag consolidation pattern, rebounding strongly after testing the $91,500 support level, with the highest reaching the first take profit target at $93,500. The EMA trend indicator shows alternating upward diffusion of the dual lines, with the bullish trend continuing well; however, caution is needed for the signal of a top divergence caused by the reduction in MACD indicator volume, which may lead to a decline in short-term upward momentum; the Bollinger Bands show an upper resistance level at $93,800 and a middle support level at $91,400. Overall, the market is in a consolidation within an upward channel, and intraday trading is more suitable for high throwing and low absorbing in segments.
