The current 1-hour cycle K-line is running above the EMA24 and EMA52 moving averages, but the latest K-line has closed with a cross star, combined with the KDJ golden cross signal, indicating fierce long short competition. Member indicators have detected that the price is approaching the support level of 111238.5 in the chip intensive area, and the proportion of buying in this area has reached 88%, indicating strong support potential. At the same time, the MACD momentum column has decreased, and downward pressure has eased to some extent.
Based on the distribution of chips, if the price can maintain the support of 111238.5, there is a chance to test the previous high of 112924.37. If it falls below support, the target will be lowered to 108541.5.
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The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.
