Yueying: Bitcoin Market Analysis Today - Stalled Again, Non-Farm Payrolls Delayed, the Bigger the Wave, the More Expensive the Fish?

Bitcoin's daily chart shows another bearish candlestick, with the price opening lower and testing the 70,000 level. The Bollinger Bands continue to widen, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with increasing volume, the KDJ is trending downwards again, and the VR indicator is consolidating around 70. Looking at the 4-hour chart, the price was resisted by the 7-day moving average yesterday, testing downwards with consecutive bearish candlesticks and breaking below the lower band. It is currently trading below this level. The Bollinger Bands are trending downwards and widening again, short-term moving averages are extending downwards, the MACD fast and slow lines have crossed downwards with increasing volume, the KDJ is finding support near 0 and shows signs of turning upwards, and the VR indicator is consolidating around 60. Overall, the market rebound is limited, with a continued slow decline and constant new lows (as expected above). If the short-term rebound fails to break through and stabilize above the 7-day moving average on the 4-hour chart, an accelerated decline is likely after the slow fall. Therefore, it's best to observe more and act less at present. Waiting for a rebound to short is risky, as the lack of a rebound and the continuous breaking of lows, while supporting levels are being referenced, increases the difficulty of short-term trading strategies. Adapt to market changes and intervene flexibly. Intraday, watch for a false break below 70,000 followed by a wicked price action. The 7-day moving average on the 4-hour chart is a key resistance level. See short-term suggestions. Bitcoin short-term suggestions: Buy at 68,600, sell at 73,700 (take profits as needed after strategy activation). Written by Zhou Yueying.