Coin Sea Wave: 5.29 Cryptocurrency Market Bitcoin (BTC) Latest Market Analysis and Insights

Coin Sea Wave: 5.29 Bitcoin (BTC) Market Analysis Reference:
Bitcoin's recent trend continues to weaken, with the daily chart clearly in a downtrend, and the price oscillating near the lower Bollinger Band, indicating weak short-term support.
In terms of moving averages, the price has broken below multiple short-term EMA lines, and all short-term moving averages are turning downward, forming a typical bearish alignment. Meanwhile, the price is below the EMA120 line, indicating a weakening medium-term trend as well.
In the MACD indicator, the DIF and DEA lines remain below the zero axis, and the MACD histogram continues to expand, showing no clear signs of weakening bearish momentum.
The KDJ indicator's three lines are near 20 in the oversold zone, not yet forming a golden cross. The RSI lines are all below 50, with the short-term RSI1 dropping to around 22, in oversold territory, but no clear bottom divergence reversal signals have appeared.
The daily downward momentum persists, making a strong reversal unlikely in the short term.
On the short-term 4-hour chart, BTC is in a weak consolidation phase after accelerating decline, with the price currently above the lower Bollinger Band, which is expanding downward. The upper and middle bands are being pushed down, clearly indicating a bearish channel.
In terms of moving averages, the price remains below the EMA lines, with a complete bearish alignment. Short-term rebounds are suppressed by the EMA7 line.
In the MACD, the DIF line is slightly turning upward below the zero axis, indicating a slight weakening of bearish momentum.
The KDJ lines are in the oversold zone near 20, with a low-level golden cross forming, and the RSI is gradually rebounding from lows.
Overall, short-term indicators suggest some rebound potential, but the overall downtrend remains intact.
The 75,000-76,000 range faces significant resistance, and subsequent rebound space is limited.
Intraday trading should focus on shorting at higher levels.
Coin Sea Wave: 5.29 Bitcoin Short-term Reference:
Long positions: Buy in the 72,200-73,000 range, with a 500-point stop loss, target 73,500-74,500.
Short positions: Short in the 75,500-74,500 range, with a 500-point stop loss, target 74,000-73,000.
This content is originally shared by 【Coin Sea Wave】 and represents personal opinions only. There may be delays in publishing. For reference only, do not operate blindly!
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