Bitcoin is currently forming an ascending wedge pattern on the 4H chart, with highs and lows gradually rising but creating a converging pattern. The 88,000-89,000 range has not yet been effectively broken below. On the indicator level, the 4H MACD remains below the zero line with increasing green bars, DIF and DEA are diverging downward, and RSI quickly fell from the overbought zone to around 40. Once the short-term neckline support breaks downward, the downside space will open.
Trading Strategy Bitcoin rebounds to the 91,000-92,000 range with a target of 89,500, and a further decline to 88,000 is possible. Altcoin rebounds to the 3,240-3,280 range with a target of 3,150, and a further decline to 3,080 is possible.
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Thursday Night Bitcoin and Altcoin Strategy
Bitcoin is currently forming an ascending wedge pattern on the 4H chart, with highs and lows gradually rising but creating a converging pattern. The 88,000-89,000 range has not yet been effectively broken below.
On the indicator level, the 4H MACD remains below the zero line with increasing green bars, DIF and DEA are diverging downward, and RSI quickly fell from the overbought zone to around 40. Once the short-term neckline support breaks downward, the downside space will open.
Trading Strategy
Bitcoin rebounds to the 91,000-92,000 range with a target of 89,500, and a further decline to 88,000 is possible.
Altcoin rebounds to the 3,240-3,280 range with a target of 3,150, and a further decline to 3,080 is possible.