BTC surged in the early session, but the "follow-through" is clearly lacking! After the price hit the upper band of the Bollinger Bands, it encountered strong resistance, with the 113,000-114,000 range becoming a short-term "roadblock." The key issue is that the trading volume did not keep up during the rebound, making the upward momentum appear a bit "hollow."
Looking at the indicators again: the MACD has just formed a small golden cross below the zero line, and the red bars have started to shorten, indicating that upward momentum is weakening; the KDJ has also entered the overbought zone and could turn down at any time, making this surge seem more like "the last gasp of a strong bow."
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8.28 Thursday midday BTC market analysis & thoughts (1-hour level)
BTC surged in the early session, but the "follow-through" is clearly lacking! After the price hit the upper band of the Bollinger Bands, it encountered strong resistance, with the 113,000-114,000 range becoming a short-term "roadblock." The key issue is that the trading volume did not keep up during the rebound, making the upward momentum appear a bit "hollow."
Looking at the indicators again: the MACD has just formed a small golden cross below the zero line, and the red bars have started to shorten, indicating that upward momentum is weakening; the KDJ has also entered the overbought zone and could turn down at any time, making this surge seem more like "the last gasp of a strong bow."
Trading Suggestions:
-BTC 113100-113800 watch the trend, target down to 111200, if broken continue down to 110500
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