9.2 Morning Bitcoin (Big Cake) Market Analysis and Trading Suggestions



Observing the current market trends, the performance of Bitcoin (Big Cake) is not optimistic. After breaking below the key support level of 110000, it has fallen into a downward predicament and has not been able to stabilize at that price level again. Every attempt to break upwards has been met with resistance, continuing the downward trend, and yesterday it even refreshed its recent low.

On the daily chart, no effective rebound signals have been observed, and the trading volume remains sluggish, reflecting extremely low market participation enthusiasm. On the hourly chart, the moving averages are arranged in a downward diverging manner, indicating a significant bearish trend, making it difficult to reverse in the short term, and it is highly likely to maintain a downward trajectory.

Operation suggestion: Bitcoin (Big Cake) short position in the range of 110500 - 109800, with a target looking towards around 108000 - 107500.
BTC-2.8%
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