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Market Overview Early This Morning:
The night trend of Bitcoin was significantly impacted by external factors, with the price quickly falling from 102800 to 98800, breaking below the important psychological level of 100000.
From a technical indicator perspective, the hourly Bollinger Bands are exhibiting a trumpet-shaped expansion pattern, indicating a significant increase in market volatility. Currently, the price of Bitcoin continues to operate outside the lower band, with downward momentum dominating the short-term trend.
The MACD indicator shows that the DIF line has crossed downwards from the DEA line, forming a death cross signal, and the distance between the two lines is gradually widening. The green momentum bars are continuously increasing, clearly releasing a bearish signal from a technical perspective. Comprehensive analysis indicates that in the short term, Bitcoin may continue a weak adjustment pattern due to the dual impact of negative factors and technical breakdown.
Reference price:
Bitcoin: Support range 98000-97400, resistance target range 99800-100400
ETH: Support range 2140-2100, resistance target range 2220-2270
The market is highly volatile, and it is recommended that investors manage their risks well.