6.7 Morning Boss


Looking at the 4-hour candlestick chart, the market shows a clear head-and-shoulders pattern, with recent prices staying close to the lower Bollinger Band and continuously declining. Although there has been some stabilization after touching the lower support, overall it remains below the middle Bollinger Band. Due to the resistance of this moving average, the head-and-shoulders trend has not yet reversed.
The short-term resistance level above can be watched at 622.
The key support below needs to be noted at 590.
Additionally, market data shows a significant net outflow in the morning, and overall market bullish momentum is insufficient. Currently, it is in a weak oscillation correction dominated by the head-and-shoulders pattern. For trading, it is recommended to focus on the performance near the middle band and avoid blindly chasing. $BTC
BTC1.45%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned