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BTC 4-hour Candlestick dips rapidly: short positions dominate, key support level 87418 is imminent
[Coin World] The recent trend of the BTC 4-hour chart is not very optimistic. Compared to noon on December 22, the price has plummeted significantly, even breaking through the 21-day low. Although the last candlestick closed as a bullish line (closing price higher than opening price), don't be too happy too soon—volume has shrunk simultaneously, which is a typical signal of a quiet market and declining participation.
Looking at the technical aspect, the situation is indeed weak: the MACD doesn't show a clear direction, but the histogram has been in the negative area and is gradually lengthening, indicating that bearish strength is accumulating. The KDJ has already formed a death cross and is currently in the overbought zone. In terms of moving averages, although the MA10 is still above the MA30 (this has been the case at 4 PM and 8 PM on December 22), it is hard to say how long the bulls can maintain this amidst the declining trend and shrinking volume.
Let's summarize the key technical points:
From a trading perspective, based on the references provided by technical analysis:
Overall, both price and volume have decreased, with bears in control, indicating significant downside risk. The key focus moving forward will be whether support at 87418 can be maintained.
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If 87418 breaks, then I have to admit defeat, nothing more to say
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Death cross and oversold still daring to collect bullish lines, this trick is old
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The accumulation of short positions is so obvious, the long positions can't hold on
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A quiet market is the easiest to dump, I choose to wait and see
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I feel like we need to explore the bottom again to see the real situation
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With KDJ in this state, the rebounds are all false, don't make blind moves
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If the support breaks, just cut loss directly, stop gambling everyone
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Volume shrinks and breaks previous lows, it's a definite break signal.
The drop with shrinking volume is really annoying, there are a lot of false breakouts.
It's a death cross and still overbought, the market data is really struggling to hold up.
Don't be fooled by the bullish line, it's very weak, wake up everyone.
If 89568 can't be broken, what are you still bragging about, really.
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If 87418 breaks, should we look directly at 85000?
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The short positions have accumulated quite fiercely this time, it feels like it will fall further.
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The bullish line is deceiving; without volume, it’s just hollow.
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It’s really uncertain how long ma10 can hold; I bet it will break.
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KDJ death cross and overbought, a typical precursor to a dip.
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I feel this wave of dip hasn’t hit the bottom yet; it’s going to continue to plunge.
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Declining volume and accumulating short positions, the Bear Market signals are at maximum.
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If the line at 87418 can’t be held, it will be troublesome.
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Don’t be fooled by the bullish line; the key is that no one is catching a falling knife.
With the volume so weak, who dares to buy the dip?
Have the short positions been accumulating for so long and finally about to release?
It's just another trick of false bullish lines, it's meaningless.
What's the use of being above ma10, the trend is already skewed.