Looking at this four-hour chart, my first feeling is that the bulls and bears have reached a point of contention, and the market is filled with hesitation and probing.
This latest bearish candle closed at 90414, breaking below the 7-period moving average, but still barely hanging above the 30-period moving average (90386.8). This indicates a weakening short-term trend, but medium-term support is very close. The price has dropped from a high of 92455 and found buying interest at 89863, forming a lower shadow, indicating there is capital waiting to enter below. However, regarding the strength of the rebound, looking at the trading volume, a single volume of 55,291, compared to the 5-day and 10-day average volume lines, indicates a volume increase during the decline, which is not a good signal, indicating that selling pressure is indeed present.
My view is clear: now is not the time to charge forward. The 30-day moving average is the current dividing line between bulls and bears. If the price can stabilize above this line and rebound, the consolidation pattern can continue, with upward pressure near the previous high of 92455. However, a more likely scenario is that there will be intense competition here, and once the 30-day line is effectively broken, the next important psychological support level will be in the 88000-89000 range.
Having been in the crypto space for eight years, I've seen this kind of trend too many times; it feels like the oppressive heat before a storm. All technical indicators are waiting for a directional breakout. Until a clear signal emerges, the best operation is to hold back. If holding a position, make sure to set a stop-loss, for example, just below 89500. If not holding a position, then patiently watch the show, waiting for the market to choose its direction; we are merely followers of the trend, not gamblers trying to catch the bottom. Remember, as long as you are alive, you can see the next bull market. @俊子爱币
