The recent 4-hour chart of Bitcoin shows that the price has stabilized at a low level in the short term, and the market seems to be looking for a new balance point. However, from the Candlestick pattern, there is still some pressure above.



In terms of technical indicators, the MACD (Moving Average Convergence Divergence) has turned positive from negative, indicating a warming of market sentiment, but the current upward momentum is still insufficient. It is worth noting that the MACD on the daily chart shows a dead cross pattern, with bearish forces in control, and the overall trend remains downward.

In terms of the specific price range, Bitcoin is currently facing resistance around $117,700 to $118,200. If it can break through this range, the next key resistance level is at $118,800. On the other hand, if the price continues to decline, it may test the support level at $116,800, or even drop further to $115,600.

Overall, although the Bitcoin price has stabilized in the short term, the market remains in an uncertain state. Investors should closely monitor changes in technical indicators and breakthroughs at key price levels to seize potential trading opportunities. At the same time, considering the current market environment, maintaining caution and risk management is particularly important.
BTC1.13%
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RuntimeErrorvip
· 08-10 04:51
Get Liquidated next time for sure
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GateUser-1a2ed0b9vip
· 08-10 04:47
Trap a K-line and say death cross, and that's it.
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SerumDegenvip
· 08-10 04:43
my bags r ready for another rekt szn
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CryptoHistoryClassvip
· 08-10 04:43
just like the dot-com bubble capitulation phase in 2000... fascinating
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SmartMoneyWalletvip
· 08-10 04:28
BTC is in a consolidation phase, and only the Whales know the truth.
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HypotheticalLiquidatorvip
· 08-10 04:27
The risk control indicators are simply blood red...
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