People who are still holding long positions in their hands are now probably watching 62,535.
The popular saying is: when volume contracts and the price won’t fall further, and once it hits support it can bounce.
But the volume ratio is really down to 0.4, yet the price has kept grinding below the MA20.
MA5 at 63,092 sits below MA20 at 63,224.
MA50 is still waiting around 63,982.
MACD is indeed bullish, but this kind of golden cross hasn’t even held above the moving averages—at most it’s a rebound from oversold conditions.
RSI is 38.1, relatively weak. It hasn’t fallen below 30, so it’s not really “oversold.”
This move gets pushed up to 64,500 and then gets smashed back down. That area becomes a hurdle for any rebound.
The Bollinger midline is MA20 at 63,224, and the current price is stuck just below it.
The lower Bollinger band at 62,362 is clinging to this wave’s low at 62,535. A break below would open up new downside space.
65,474 is the previous high, and 65,391 is the prior range/platform. If you rebound up there, it’s all trapped positions.
I plan to wait for the rebound to around 64,500 and then go short.
Stop-loss: above 65,474. Target: 62,535.
If I’m wrong, I’ll treat it as tuition. Fine.
#BTC #ETH #比特币 #币圈 #行情分析
The popular saying is: when volume contracts and the price won’t fall further, and once it hits support it can bounce.
But the volume ratio is really down to 0.4, yet the price has kept grinding below the MA20.
MA5 at 63,092 sits below MA20 at 63,224.
MA50 is still waiting around 63,982.
MACD is indeed bullish, but this kind of golden cross hasn’t even held above the moving averages—at most it’s a rebound from oversold conditions.
RSI is 38.1, relatively weak. It hasn’t fallen below 30, so it’s not really “oversold.”
This move gets pushed up to 64,500 and then gets smashed back down. That area becomes a hurdle for any rebound.
The Bollinger midline is MA20 at 63,224, and the current price is stuck just below it.
The lower Bollinger band at 62,362 is clinging to this wave’s low at 62,535. A break below would open up new downside space.
65,474 is the previous high, and 65,391 is the prior range/platform. If you rebound up there, it’s all trapped positions.
I plan to wait for the rebound to around 64,500 and then go short.
Stop-loss: above 65,474. Target: 62,535.
If I’m wrong, I’ll treat it as tuition. Fine.
#BTC #ETH #比特币 #币圈 #行情分析