Wave Through the Currency Sea: 8.13 Bitcoin (BTC) Market Analysis Reference:

Bitcoin has recently ended its range upward movement and entered a stage of fluctuations and declines, with the daily chart recording three consecutive days of bearish closes, currently priced at 63400, which has fallen below several short-term EMA moving averages, showing signs of pressure; the upper band of the Bollinger Bands is pressing down, and the MACD indicator shows the DIF crossing below the DEA forming a dead cross, with bearish momentum slowly being released. The previous low of 62228 has formed significant support, while there is dense selling pressure around the upper level of 65400. The market currently lacks sustained upward momentum, leaning towards a weak oscillating pattern.

The 4-hour cycle shows more obvious weak characteristics, with prices continuously running below all short-term EMA moving averages; the moving average group has turned from support to resistance. The Bollinger Bands are opening downward, with prices operating near the lower Bollinger band. The MACD remains below the zero axis, and the bearish trend has not yet reversed. Although the KDJ indicator has entered the low range, there are no signs of stabilization. There is some space for downward probing in the market, but strong support exists at the previous low. After a subsequent decline, it is expected to welcome a recovery move. However, the sustainability of the rebound is questionable, as it may easily face resistance from the upper moving averages. Therefore, it is not suitable to blindly pursue short positions at this stage; instead, one should wait for prices to retest key support levels to observe the strength of the support. If the support stabilizes, then one may consider short-term rebounds. If participating in rebound positioning, do not hold overly high profit expectations, and take profit promptly upon reaching the upper resistance range. If the support level is effectively broken, then look for further adjustments while ensuring proper position management and strictly setting stop-losses to avoid risks from sudden fluctuations.

Wave Through the Currency Sea: 8.13 Bitcoin Short-term Reference:

Long positions: Buy in the range of 62200-62900, stop-loss of 500 points, target at 63500-64500.

Short positions: Sell in the range of 65000-64200, stop-loss of 500 points, target at 63800-62800.

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The article release has a delay, which is time-sensitive. The above analysis and strategies are personal opinions for reference only; do not operate blindly!

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