1) Weekly Chart: Two lower shadow bearish K-lines, indicating that the rebound and oscillation will continue in the coming weeks; currently in the 4th wave rebound of a 5-wave decline pattern, not a reversal; 2) Daily Chart: MACD shows a golden cross at a low level, but trading volume is sluggish. For medium-term short positions, it might be better to wait until the MACD forms a death cross at a high level; 3) Four-Hour Chart: Bullish volume is decreasing, suggesting a possible forming of a symmetrical triangle or an upward channel as a corrective structure during a downtrend; 4) ETF has experienced net outflows for four consecutive weeks.
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BTC Weekly Market Analysis and Forecast
1) Weekly Chart: Two lower shadow bearish K-lines, indicating that the rebound and oscillation will continue in the coming weeks; currently in the 4th wave rebound of a 5-wave decline pattern, not a reversal;
2) Daily Chart: MACD shows a golden cross at a low level, but trading volume is sluggish. For medium-term short positions, it might be better to wait until the MACD forms a death cross at a high level;
3) Four-Hour Chart: Bullish volume is decreasing, suggesting a possible forming of a symmetrical triangle or an upward channel as a corrective structure during a downtrend;
4) ETF has experienced net outflows for four consecutive weeks.