BTC, from a technical structure perspective, on the 4-hour chart, the BOLL indicator shows an opening downward trend. After the price broke through the lower band, it experienced a brief support; however, both the upper and middle bands continued to exert downward pressure, clearly indicating that the current trend is firmly controlled by the bears. Trading volume increased in tandem with the price decline, especially when the price broke below the 90,000 mark, with volume significantly rising, vividly reflecting extremely heavy selling pressure. If the subsequent rebound cannot be effectively supported by volume, it may easily trigger a severe second downward test.
Bitcoin: Around 89,300-89,800, with a rebound at 90,300, and a downside target of 88,300-86,800.
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.
BTC, from a technical structure perspective, on the 4-hour chart, the BOLL indicator shows an opening downward trend. After the price broke through the lower band, it experienced a brief support; however, both the upper and middle bands continued to exert downward pressure, clearly indicating that the current trend is firmly controlled by the bears. Trading volume increased in tandem with the price decline, especially when the price broke below the 90,000 mark, with volume significantly rising, vividly reflecting extremely heavy selling pressure. If the subsequent rebound cannot be effectively supported by volume, it may easily trigger a severe second downward test.
Bitcoin: Around 89,300-89,800, with a rebound at 90,300, and a downside target of 88,300-86,800.