Today’s Bitcoin Trend Analysis

BTC’s four-hour candlestick chart touched the 30-day moving average at $115,700 and then began to decline. Support currently lies at 113,850, the 0.5-day support level of the Golden Ratio. The next step is to test the strength of underlying support. Combined with the MACD’s flat volume, the low divergence between the DIF and DEA, and the shrinking Bollinger Bands, the upper resistance level has fallen to 117,600, while the lower support level has reached 109,000. This suggests that the bull and bear markets are in a consolidation phase, and the triangle pattern is nearing completion.

Short-term trading strategy:

Long at 113,000

Short at 115,500