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Mr. Coin: 9.6 Bitcoin (BTC) Market Analysis Reference
Looking back at the past three days, Bitcoin surged to a high of 82,282 before bulls encountered selling pressure, leading to a continuous pullback and entering a high-level consolidation. The major bullish trend has not been broken, and the price is still operating in the upper Bollinger Band range. However, pay attention to the RSI indicator, which is around 62, and the MACD red bars are continuously shrinking, indicating that after this surge, bullish momentum is gradually weakening, and the strength for further upward movement is insufficient, so a pullback could occur at any time. Key support is at the 77,500‑78,000 range, and strong resistance remains at the previous high of 82,280.
Switching to the 4-hour timeframe, after surging and pulling back, the price has steadily held the middle of the Bollinger Band; lows are rising, indicating a consolidation and recovery phase. MACD is above zero, red bars continue to shrink, and KDJ is turning up from low levels, which suggests a need for short-term rebound and correction. The key 4-hour support is at 78,500, with resistance at 81,000. On the hourly short-term chart, the trend fluctuates in a narrow range; MACD forms a golden cross, KDJ turns upward, and short-term bulls have the edge. However, there is heavy selling pressure above, and the upward breakthrough momentum is limited. Short-term support is at 79,400 and resistance is at 80,700‑81,000.
Overall, the long-term bullish trend is still intact, but after the recent three-day surge and pullback, bullish strength at highs has noticeably weakened. The market presents two scenarios: the first is holding above 78,500 support and continuing high-level consolidation, with a possible retest of the previous high; the second is, if the key support at 77,500 is broken, one should be alert to a deeper correction. At this stage, do not blindly chase the highs, as there is significant risk in chasing during a high-level consolidation. Focus on the key levels: bulls will regain strength above 81,000, but if the price falls below 77,500, it’s important to avoid pullback risks. The above is for technical sharing only and does not constitute any investment advice.Follow Mr. Coin for real-time market analysis.
9.6 Bitcoin Short-term Reference:
Go short in the 81,300-82,300 range, stop-loss at 500 points, target below 80,000
Go long in the 77,500-78,500 range, target above 79,000, stop-loss at 500
The above is an advance prediction; please take real-time market conditions as standard. Strategy suggestions are for reference only. The market is highly volatile, so regardless of your confidence in market judgement, remember to set take-profit and stop-loss, and secure your profits.
Source: www.bitget.com