Analysis of BTC recent trends and trading strategy

Currently, the BTC weekly chart shows a contracting volume bearish candle, and the close has not yet occurred. We need to be cautious about whether it will engulf last week's bullish candle. The key is to observe the breakout situation of the weekly support ($114,000) and resistance ($123,000); the daily chart is still oscillating in a descending channel, and indicators show a pullback risk. In the short term, we need to focus on finding opportunities at the 4-hour level.

Weekly: Key point under the contracting volume bearish candle

The weekly chart is currently a contracting volume bearish candle. Before the close, two key positions need to be closely monitored:

• Support level at 114,000 USD: If held, the weekly chart may maintain a consolidation and avoid engulfing last week's bullish candle;

• Resistance level 123,000 USD: If broken, it may reverse the short-term weakness.
Core: The weekly direction is unclear; we need to wait for the closing line to confirm the trend. It is not advisable to take heavy positions currently.

Daily: Pullback risk within the descending channel

The daily chart is still in a descending channel consolidation, and two key price levels need to be monitored:

• Upper resistance at 119,500 USD: If it continues to be blocked, the probability of a pullback increases;

• Middle track support at 116,000 USD: If the upper track is obstructed and falls back, this position serves as important support.
In terms of indicators, the MACD death cross risk remains unresolved and the RSI is diverging downwards, both pointing to short-term pullback pressure, and caution is needed for further downside.

4-hour level: core reference for short-term opportunities

Short-term trading can focus on the 4-hour level, responding to two scenarios:

1. Pull back to support level: If the pullback continues, pay attention to the midline of the descending channel around 116,000 USD. If it holds, you can gradually accumulate (short term);

2. Pullback after breaking the upper trendline: If the upper trendline of the descending channel (119,500 USD) is broken, pay attention to the opportunity for a second pullback to that position and trade on the right side.

Summary: Be cautious and look for opportunities in the short term.

Overall, BTC is currently in a stage of long and short game in the short term, the weekly direction is yet to be confirmed, and the daily pullback risk has not dissipated. Trading strategy suggestion:

• Focus on observation at the weekly level, waiting for support/resistance breakout signals;

• If the daily line is blocked by the upper track, priority should be given to the effectiveness of support on the middle track.

• For short-term trading, rely on the 4-hour level. After a pullback to the support level stabilizes or breaks and then retraces, look for an opportunity to trade, and set strict stop losses. #币圈 # #btc# #合约# #区块链 #