9.25 Morning BTC Trend Analysis


The price of BTC fell to around 110935.0 earlier before stopping its decline, forming strong support at that position. Subsequently, the price began to rebound; despite some fluctuations, it overall presented a trend of oscillating upwards, and it did not revisit the previous low, indicating that the support below is solid, laying a firm foundation for further price increases.
The current price is running above the middle band of the Bollinger Bands, indicating that the bulls have a certain advantage. At the same time, there are signs that the Bollinger Bands are overall narrowing upwards and gradually flattening.
Near 110935.0, the trading volume showed a significant increase, indicating that a large amount of buying funds entered the market to absorb the selling pressure, and the market had a high level of recognition for this position. During the subsequent price rebound, although the trading volume fluctuated, it remained relatively stable overall, suggesting that bullish funds continued to participate, providing volume support for the price increase.
Trading suggestion: Buy near 112000-112200, target 113500, stop loss at 111500.
BTC-0.85%
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