Hello everyone on Monday. Last Friday, the big BTC move surged nearly 5,000 points overnight. I originally thought it would be a weekend with choppy, slow drifting, but the intensifying Middle East situation further escalated tensions and wore the market out.
From 0:00 to 3:00 a.m., the price plunged straight from 762 to around 737, triggering a large number of stop-losses and stop orders. At the same time, it also led to a collective “southbound” move by the major coins. Fortunately, the market had already anticipated the “southbound” weekend flow with the “jade-plate southbound” move. The current price order-sharing is in place now. Fans who followed in early should all be in for a good harvest.
Let’s look at today’s technicals: In the 4-hour Bollinger Bands, the lower midline turns downward. The price breaks below the lower band and is in a technical correction process. The MACD shows a dead cross with both lines heading downward, and the short-side energy histogram continues to expand. The current market is in a standoff state of “institutional drag-and-dominate vs geopolitical risk suppression.” In the short term, it depends on whether the key levels from the geopolitical news break through.
Trading suggestion: You can lightly open shorts in the 748-752 rebound range, with a downside target of 730.$BTC #山寨币强势反弹