Back to the #Bitcoin charts. Forgive me for laughing a little unkindly—this price action feels like one of those days when the bulls and bears are calling each other idiots.
Looking at the chart, the price bounced after falling back to around 80,000, and the hourly rebound has indeed been pretty solid. Overall, market confidence is still holding up in the short term.
That said, while the rebound is underway, the price is still meeting some resistance at the 4-hour MA200 trendline. Even if it breaks through, the 4-hour MA120 at 83,800 is the next resistance. Unless price breaks out of the range between the MA120 and MA200, the market will remain stuck in consolidation.
Based on the current situation, to break out of this range, the price needs to make a short-term breakout and hold above 84,000. Otherwise, a return to the consolidation range remains the more likely outcome. #比特币现货ETF单日净流出2.61亿美元
Looking at the chart, the price bounced after falling back to around 80,000, and the hourly rebound has indeed been pretty solid. Overall, market confidence is still holding up in the short term.
That said, while the rebound is underway, the price is still meeting some resistance at the 4-hour MA200 trendline. Even if it breaks through, the 4-hour MA120 at 83,800 is the next resistance. Unless price breaks out of the range between the MA120 and MA200, the market will remain stuck in consolidation.
Based on the current situation, to break out of this range, the price needs to make a short-term breakout and hold above 84,000. Otherwise, a return to the consolidation range remains the more likely outcome. #比特币现货ETF单日净流出2.61亿美元