Evening BTC analysis and trading strategy

In the evening, the daily level BTC shows a bearish increase with a closing candle, and the MACD death cross is expanding, indicating that the downward momentum has not yet been fully released. However, in the short term (hourly chart), the price has not shown a very weak trend during the correction, suggesting a certain possibility of a rebound.

Currently, the moving average resistance on the four-hour chart is concentrated around 116000 - 116500. The low point of the overnight pullback overlaps with this area, creating strong resistance. If the price declines, the previous low around 115000 is a key support level. Once it breaks, it may further test the 114000 - 114500 range.

The short-term (hourly chart) MACD shows a weakening of bearish strength, but the bulls have not yet taken the lead, leaving the market in a tug-of-war between bulls and bears. In terms of operations, if the price rebounds to the 116000 - 116500 range, a small short position can be attempted, with a strict stop-loss set above 117000 to prevent trend reversal and larger losses. If the price first reaches near the 115000 - 115200 support level, close observation is needed; if it breaks below 115000, then targets can be set towards 114000 - 114500.