The daily chart has recorded two consecutive long lower shadow candles, looking like the decline is losing momentum and may stop. The price is now hovering around the 5-day moving average on the daily chart, so we need to watch if it can stabilize above this line and continue to rise.
On the 4-hour level here, three consecutive bullish candles have formed, and the price has touched the 30-day moving average on the 4-hour chart—this level is also the resistance point of yesterday's rebound high. If it can break through and hold, we will look for a bullish move up to 96000; if it cannot break through, it is likely to pull back again.
Trading advice: Buy near 91000-89000, set stop loss at 88500, target at 96000
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In the afternoon, BTC chart analysis:
The daily chart has recorded two consecutive long lower shadow candles, looking like the decline is losing momentum and may stop. The price is now hovering around the 5-day moving average on the daily chart, so we need to watch if it can stabilize above this line and continue to rise.
On the 4-hour level here, three consecutive bullish candles have formed, and the price has touched the 30-day moving average on the 4-hour chart—this level is also the resistance point of yesterday's rebound high. If it can break through and hold, we will look for a bullish move up to 96000; if it cannot break through, it is likely to pull back again.
Trading advice: Buy near 91000-89000, set stop loss at 88500, target at 96000