Weekend BTC Trend Analysis and Trading SuggestionsLet's review this afternoon's market performance. The BTC price, as we anticipated, rebounded to around 109,000 in the afternoon before plummeting sharply. Living up to "Black Friday", this violent drop was well within our expectations. In the afternoon's live trading, we also reminded everyone that as long as there was a rebound to the upper zone, it was a good opportunity to go short. This drop has created a space of nearly 1,500 points. Currently, the BTC price has pulled back to around 107,800.
From the current 4-hour K-line chart, after a strong upward surge, the market encountered significant resistance near the upper track of the Bollinger Bands. As bullish momentum gradually faded, the price started to come under pressure and decline, suggesting that the short-term upward trend may come to a temporary halt. At present, the market has recorded multiple consecutive candlesticks with large bearish bodies. The price has not only effectively broken below the key support level of the Bollinger Bands' middle track but also caused the Bollinger Bands channel to switch from expanding to narrowing, indicating that market volatility is decreasing. In terms of trading volume, it showed a moderate increase during the price pullback, which further confirms the authenticity of the bearish selling pressure.
BTCUSD
sell@108000-1085000
tp:107000-106000
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