Friday Afternoon Bitcoin Market Analysis and Trading Suggestions
Currently in a critical consolidation phase, direction selection is imminent.
The 88000-89000 area is a key support; if it cannot be maintained, there is further downside risk. The upward momentum is currently insufficient, and attention should be paid to whether it can stabilize above 91000 again.
Technical indicators analysis shows that the daily line has broken below EMA15 (91000), with the upper Bollinger Band moving down to 94200, and the price falling back to consolidate around the middle band at 89900; the 4-hour Bollinger Band range has narrowed to 88800-93700, displaying a volatile pullback trend. The daily MACD shows an expansion but the price is declining, indicating a certain divergence signal, with DIF and DEA still in a low-level diffusion state; the 4-hour MACD volume has contracted, and the two lines are hovering around the 0 axis, with bulls and bears temporarily balanced.
Key positions: Short-term resistance at 92000-93000 (high transaction density area), strong resistance at 93000-94000 (previously unbroken multiple times), main support at 88000-89000, followed by 85500, and in extreme cases, looking at 83822. In the short term, pay attention to the effectiveness of support at 88000-89000, and it is expected to continue to oscillate and consolidate between 90000-93000; subsequently, it may once again test the resistance area of 93000-94000; if it breaks below 88000, it may further test 85500 or lower positions, and continuous downside risk should be guarded against.
Trading Suggestions:
Short-term, consider light positions to go long in the 89000-89500 range, or light positions to short in the 92500-93000 range, focusing on range trading;
For conservative traders, it is recommended to temporarily observe and wait for clear direction before following up. This week, it is crucial to focus on whether a key price breakthrough signal appears.
