Price trend on 1-hour period: Sideways

1. Overall analysis
Price 85953.8 in the near future
• In the short term, the price is in a sideways downtrend. The short-term MA (7) and long-term MA (30) indicate that the market is still under downward pressure. If the price breaks through the short-term support level of 85953.8, further decline may occur, with the key support level potentially reaching 84600.0.
• Technical analysis shows that after the appearance of the uptrend and downtrend channels, the indicators have not shown a rebound signal in the near term, increasing the possibility of further weakness in the short term.
• The current resistance at 87843.3 (30-day moving average) will constrain the price in the short term and continue to act as resistance above. Only when the price effectively breaks through MA(7) and MA(30) is it possible to change the downward pressure.
• Suggestion: It is recommended to continue to maintain a wait-and-see attitude in the short term, closely observe the effectiveness of the support at 85953.8, and whether it will break through the support at 84600.0. Before the market shows a strong rebound signal, be cautious in establishing long positions. At the same time, consider setting a stop loss near 87843.3 to control potential risks. If holding a short position, timely reduce the position using the recent price pressure levels, but still need to closely monitor changes in the market dynamics.
2. Technical Analysis
• K-line pattern: Overall showing a sideways downtrend, with resistance forming near the high point of 92759.3 and support forming near the low point of 84600.0.
• MA: Short-term MA (7) is below MA (30), and the price is running below the moving average, indicating a weak short-term trend.
3. Potential buying and selling points
• Buy point: 85149 USDT (close to the previous low, forming support, with rebound potential)
• Long stop-loss point: 84600 USDT (breaking below the recent low confirms the acceleration of the downward trend)
• Sell Point: 87843 USDT (close to the 30-day moving average resistance, facing selling pressure risk)
• Short stop loss: 88000 USDT (breaking through the 30-day moving average, may reverse upwards)
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