1.8 Cryptocurrency Market Bitcoin (BTC), Ethereum(ETH) Today's Latest Market Analysis and Insights

: 1.8 Bitcoin (BTC) Market Analysis Reference:
Bitcoin's intraday price continues to fluctuate downward, with the price briefly breaking below the 90,000 key level in the afternoon. Currently, the latest price hovers around this level with narrow fluctuations. On the daily chart, BTC surged to around 94,700 before closing with consecutive bearish K-lines. The upper Bollinger Band shows signs of turning, with the upper band pressure at 93,200 and the lower support at 85,200. The price is currently trading between the middle and upper Bollinger Bands, not yet breaking below the key support of the medium-term upward trend. The KDJ indicator's three lines have formed a death cross and are diverging downward, indicating that the bullish momentum on the daily level is beginning to weaken. Although the MACD remains above the zero line, the volume bars are continuously shrinking, and the DIF has a turning trend, suggesting that the medium-term bullish strength is weakening. The RSI has fallen back to the 40-50 range, moving out of the overbought zone, with a gradual release of the correction demand. Overall, the core framework of the bullish trend has not been effectively broken, and the current pullback is most likely a normal technical correction after a rally.
In the 4-hour chart, BTC has effectively broken below short-term support levels such as EMA15 and EMA20. The Bollinger Bands are opening downward, with the price moving along the lower band. The lower support at 90,000 has been tested. The KDJ lines have fallen below 20 into oversold territory, with some expectation of a rebound from oversold conditions, but no golden cross or turning signal has appeared yet. The MACD has formed a death cross above the zero line, with the fast line diverging downward and approaching zero. The volume bars are negative and continue to expand, indicating that the bearish momentum is being released. The 1-hour chart continues the weak pattern seen in the 4-hour chart, with the support at 89,950 on the lower Bollinger Band slightly broken. The KDJ shows signs of reversal with low oscillation, and the RSI has fallen below 30 into oversold territory, turning upward. There is a short-term possibility of a technical rebound, but the strength of the rebound depends on whether the 90,000 support level can hold. If it stabilizes, the price may rise back to the 92,000-93,000 range.
1.8 Bitcoin Short-term Reference:
Long positions: Buy in the 89,000-90,000 range, stop loss at 88,500, target 91,000-92,500.
Short positions: Sell in the 92,200-93,200 range, stop loss 500 points, target 91,500-90,500.
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