Wednesday Morning Bitcoin, Jing Yi's Analysis


From a technical structure perspective, the 4-hour Bollinger Bands are trending upward, indicating a rebound after a decline, overall a corrective rally. The KDJ three lines are deeply downward, with the J value approaching oversold levels. In the short term, there is a slight rebound correction demand, but the overall trend remains weak, mainly around a pullback to buy low.

First resistance: 669-674
Second resistance: 70,000 round number

First support: 655
Second support: 636-640

Trading Suggestions
Bitcoin short-term pullback to 654-655 for stabilization and long positions, target 665-672, stop loss below 650.
If it rebounds to 668-674 and encounters resistance then falls back, consider short positions, target 656-648, stop loss above 676.

If it breaks below 655 midline: follow the trend to short, with support at 638 below.
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