Analysis of weather trends on July 30, 2023
BTC
Daily level: BTC volatility has fallen to its lowest point in ten years for six consecutive days. This Thursday, it was mentioned that "the bulls have begun to counterattack. The first key position is to stand firm at 29,500. If the bulls cannot hold on, the next target position for the correction after the 3.18w rise is 28,300." It has been tested twice so far. , then focus on the support position 29150/28300/27863/27500, which shows that the market is still digesting the rapid rise in the early stage and waiting for a new breakthrough direction.
4H level: The RSI indicator has entered the oversold area. Bitcoin is currently in a downward channel and is still facing further downward pressure in the short term. The red column of the MACD indicator shrinks, and the sellers may be more powerful than the buyers. The price may test the psychological mark near $20,000. The four-hour pressure position is 29635. The kinetic energy of the bulls is currently slightly stronger than the kinetic energy of the bears, with the range ranging from 29069 to 29500. High altitude and low bulls are the main force.
Current capital flow situation: stay on the sidelines.