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Analysis of BTC trends on the morning of September 23
In a one-hour K-line, the price is currently close to the lower band of the Bollinger Bands. Historically, when the price touches the lower band, it is often followed by a rebound, indicating a potential short-term oversold rebound demand. The lower band has a potential support effect on the price.
The MACD line is in the positive territory, and the histogram is above the zero line, indicating that bullish momentum is still present. If the MACD histogram continues to expand, it means that bullish momentum is further strengthening, which will provide support for upward price movement.
The current price is forming a phase support near 111800, and a K-line pattern indicating a stop and stabilization has appeared, suggesting that there is buying support at this price level. If the buying momentum continues to be released subsequently, pushing the price to break through the recent local high, it is expected to initiate an upward trend.
Operation suggestion: Buy around 111700-112000, target 114000-114500