Cryptocurrency Expert: Technical Adjustment at 5.16 BTC is About to Reach a Turning Point! Latest Market Analysis and Trading Suggestions

The current price of Bitcoin is 79,400. Those who have been in the cryptocurrency space know well that most of the exiters have been defeated by luck and greed. Those who make wrong directional bets and refuse to stop-loss often get deeply trapped; when they make small profits, they are reluctant to take them, resulting in all profits being given back. Currently, 79,400 is at a critical point of contention, and the market situation is still unclear. Do not frequently place orders and disrupt the rhythm. Trading is essentially a practice in resisting human nature, controlling inner greed and fear, looking down on short-term profits and losses, and prioritizing risk management.

The short-term moving averages on the daily chart are under pressure, but EMA30 and EMA60 are still arranged upward, with a support level near 77,000. The MACD indicator shows that the DIF has crossed below the DEA, with green bars appearing, and upward momentum has significantly weakened, indicating signs of a second pullback. The middle track of the Bollinger Bands is basically equal to the current price at 79,330, the upper band at 82,954 forms short-term pressure, and the lower band at 75,707 provides strong support. Overall, it remains in the northern zone of oscillation above the middle track, with no clear trend reversal signals yet seen.

The four-hour chart shows that it has broken below the EMA15 and EMA30 moving averages, currently situated below the EMA60, with a weakening short-term trend. The MACD's DIF and DEA are both operating below the zero axis, with continuous growth in green bars, indicating that downward momentum is dominant. The middle track of the Bollinger Bands at 80,222 shows clear pressure, and after a price pullback to the lower track around 78,545, there is a slight rebound; however, the pressure from the upper track at 81,898 still exists. The current K-line has formed a small bearish line, with trading volume not showing a significant increase, indicating that the downward momentum has not been fully released. In the short term, it is likely to oscillate between 78,500 and 80,500, waiting for direction selection.

Short-term trading considerations: Follow the major trend, small stop-loss, quick entry and exit

On the downside from 78,500 to 78,800 upwards, stop-loss at 77,800, target at 80,500 to 81,800

On the upside from 80,300 to 80,800 downwards, stop-loss at 81,400, target at 79,000 to 78,000

Note: Currently in a weak corrective phase leaning towards bearish oscillation, heavy positions are not recommended. If the price breaks below the support level of 77,800, timely adjustments to long positions must be made to avoid being trapped.

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