【BTC Market Analysis】
The market last surged to 67,000, then fell to 62,200, and then rebounded from the bottom, pulling back to around 65,300
65,300 is the 12-hour EMA resistance level, the Bollinger upper band pressure point, and also the candlestick pressure zone. The EMA extreme resistance level and the daily upper band are both around 66,200
Meanwhile, the weekly KDJ: when it is at 67,000, the level is around 31, and when it is at 65,300, it is around 70. The market is in a range-bound “gradual rise” pattern, pushing KDJ to the high zone. Although MACD has a golden cross, it is still far below the zero line. Also, over the past 6 weeks, 5 of them have been releasing bullish energy
From this, it can be seen that: the market will not go into a bull run, and the broader market remains in range-bound “gradual rise.” What’s in front of us now is that KDJ is at the 70 level. Combined with the current 12-hour and daily indicators, the market can only show three possible scenarios
Before determining the market’s direction, the only uncertain factor is 65,300 and 66,200
Both are strong resistance zones. No matter which level is reached, the market will pull back. The first scenario is a pullback to around 64,000, then continuing to “rub” along the 12-hour Bollinger middle-to-upper band, followed by another rise to around 67,200, and then a further smash-down. This is the most extreme case
The second scenario is the market pulls back and drops to around 62,200, then rebounds back to 65,300 or 66,200 and gets smashed down again
The third scenario is the market pulls back and drops to around 62,200, then rebounds to around 64,000, and then gets smashed down again
A common feature of all three scenarios is that they will form resistance at 65,300. At the extreme, it will fall from the 66,200 resistance level. The only difference is whether the downside point is 64,000 or 62,200
As for the final outcome: the broader market must be smashed down. No matter how it grinds, it’s going to smash down to $BTC #指标
The market last surged to 67,000, then fell to 62,200, and then rebounded from the bottom, pulling back to around 65,300
65,300 is the 12-hour EMA resistance level, the Bollinger upper band pressure point, and also the candlestick pressure zone. The EMA extreme resistance level and the daily upper band are both around 66,200
Meanwhile, the weekly KDJ: when it is at 67,000, the level is around 31, and when it is at 65,300, it is around 70. The market is in a range-bound “gradual rise” pattern, pushing KDJ to the high zone. Although MACD has a golden cross, it is still far below the zero line. Also, over the past 6 weeks, 5 of them have been releasing bullish energy
From this, it can be seen that: the market will not go into a bull run, and the broader market remains in range-bound “gradual rise.” What’s in front of us now is that KDJ is at the 70 level. Combined with the current 12-hour and daily indicators, the market can only show three possible scenarios
Before determining the market’s direction, the only uncertain factor is 65,300 and 66,200
Both are strong resistance zones. No matter which level is reached, the market will pull back. The first scenario is a pullback to around 64,000, then continuing to “rub” along the 12-hour Bollinger middle-to-upper band, followed by another rise to around 67,200, and then a further smash-down. This is the most extreme case
The second scenario is the market pulls back and drops to around 62,200, then rebounds back to 65,300 or 66,200 and gets smashed down again
The third scenario is the market pulls back and drops to around 62,200, then rebounds to around 64,000, and then gets smashed down again
A common feature of all three scenarios is that they will form resistance at 65,300. At the extreme, it will fall from the 66,200 resistance level. The only difference is whether the downside point is 64,000 or 62,200
As for the final outcome: the broader market must be smashed down. No matter how it grinds, it’s going to smash down to $BTC #指标