Today the market continues to be in a fluctuating state, likely waiting for Powell's speech and the clear release of fundamental data. Therefore, our long position layout is also waiting for the right exit opportunity, continuing to observe the market conditions during the day.
In the four-hour structure of Bitcoin, after another inverted hammer line is presented, it turns into an upper shadow candlestick, indicating a clear shift in trading, which also shows that the direction is unclear. The Bollinger Bands are starting to narrow downwards, and the K-line has not been able to stabilize above the middle band, indicating a lack of continuation in the upward movement. In the one-hour structure, the price has been testing the support and resistance at the middle band, forming a typical oscillation structure. Although the values in the MACD are neutral, the fast and slow lines are starting to diverge upwards, suggesting a trend leaning towards bullish. The market outlook can be optimistic, but to be cautious, maintain good defensive measures.
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.
Today the market continues to be in a fluctuating state, likely waiting for Powell's speech and the clear release of fundamental data. Therefore, our long position layout is also waiting for the right exit opportunity, continuing to observe the market conditions during the day.
In the four-hour structure of Bitcoin, after another inverted hammer line is presented, it turns into an upper shadow candlestick, indicating a clear shift in trading, which also shows that the direction is unclear. The Bollinger Bands are starting to narrow downwards, and the K-line has not been able to stabilize above the middle band, indicating a lack of continuation in the upward movement. In the one-hour structure, the price has been testing the support and resistance at the middle band, forming a typical oscillation structure. Although the values in the MACD are neutral, the fast and slow lines are starting to diverge upwards, suggesting a trend leaning towards bullish. The market outlook can be optimistic, but to be cautious, maintain good defensive measures.