[BTC] Chart Market Status

1D
In the daily frame of Bitcoin, the short-term and medium-term moving averages are breaking below the long-term moving average, transitioning into a reverse arrangement.
If it can't be raised quickly, it doesn't seem likely to expect a year-end Santa rally.

The moving average is an indicator that shows the trend, and the moving averages are declining.
Although there was a brief rebound yesterday, I don't think it's a genuine one, and until the moving average starts to rise, it can hit resistance from support/resistance lines or the moving average at any time and drop down again.

4H
Nevertheless, it seems that the bottom has come out, and if you feel that you should only go long from now on, it is advisable to first rise above the nearby 88,752 and check if the candles are holding well, then place a stop-loss below the support line and enter.

The strong resistance zone is marked with a pink box.

93.3k
99.3k

Of course, there are many strong resistance zones above that, but I will first check if it breaks through the two places I mentioned above and post again.

#BTC # Chart Status #Bitcoin