BTC has been trading sideways for another week, and the daily ATR volatility has fallen to 573, which is the lowest point since January 2023. It is likely that a storm is brewing.
Bitcoin has crossed the upward trend line, the daily MACD column has shown a head and shoulders pattern, and the 4-hour indicator has shown a bottom divergence again.
Therefore, the probability of a rebound here is still high. The defensive position is US$28,600 (daily moving average MA120), and the nearest pressure level is US$29,500.