Da Huang Analysis



The 15-minute Bollinger Bands show the lower band bottoming out and rebounding, forming a narrowing reversal “turning point” pattern. After the price probed down to the low of 4618.14, it quickly closed higher with a bullish candle and completed a short-term sharp sell-off bottoming move. Currently, the price has held below the key support under the Bollinger middle band at 4649.64; the lower band at 4629.48 forms a strong support band, with bearish momentum exhausting, and the rebound/repair demand is clear.

After the sharp drop, a long lower-shadow bullish candle was printed, and the sell-off-stabilization and reversal signal is clear. The price has moved away from the panic zone at low levels, and the short-term bulls have started to gain strength; a pullback is a low-entry long opportunity.

Trading suggestion: 4610-4630, buy; target 4650-4680. If it breaks out to the downside, look for 4700.$BTC $GT
BTC-0.46%
GT-0.3%
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