The current 1-hour cycle K-line shows that BTC prices are below the EMA24 and EMA52 moving averages, showing an overall downward trend. Member indicators show that trading volume has shrunk to 19.50% of the average level, and market activity has significantly decreased. However, the KDJ indicator has converged and formed a golden cross, suggesting that there may be a short-term reversal upwards. Based on the distribution of chips, the price is approaching the key resistance zone of 90191.5. If it can effectively break through, it may accelerate its upward trend.
In addition, the appearance of a hammer shaped candlestick pattern indicates a weakening of downward momentum and the emergence of bottom support. We need to pay attention to the support strength in the 85000-86000 area in the near future. If we stand firm, we may test the 90000 mark.
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The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 1-hour] candlestick, for reference only, and does not constitute any investment advice.