Jin Old Cat: Bitcoin Fluctuates to Find Bottom, Patience for Low-Buy Signals

The market never disappoints those who are patient, nor does it miss opportunities for impulsive moves. Today’s Bitcoin行情 is the best illustration of this saying.

The current行情 continues the recent correction trend, with the price declining from yesterday’s high of 91345 USD, reaching a low of 87787 USD, and currently oscillating around 89510 USD, with a 24-hour decline of 1.47%. From the 1-hour chart, after breaking below the key support at 95000 USD, the price shows a stair-step downward pattern, with increased volume during the decline, indicating short-term selling pressure is still being released.

On the news front, the market is in a phase of mixed bullish and bearish signals. On one hand, recent US economic data shows easing inflation pressures, and market expectations for a rate cut by the Federal Reserve in March have increased, providing potential support for risk assets; on the other hand, cryptocurrency regulation remains uncertain, with rumors of tightening policies in some regions triggering risk-averse sentiment among funds. Coupled with profit-taking from previous gains, these factors have jointly driven this round of correction.

Technically, on the 1-hour chart, the Bollinger Bands are opening downward, with the price moving between the middle and lower bands, with the middle band exerting clear resistance; the KDJ indicator is currently rebounding from low levels, with the J line turning upward, indicating short-term rebound momentum; the MACD histogram is narrowing, with the DIF and DEA lines forming a golden cross at low levels, signaling a phase of stabilization. However, the price has not yet firmly stabilized above the Bollinger middle band, and the $90000-$91000 region still faces strong resistance, while the short-term support is at $87500-$88000.

Strategy-wise, we continue with the “low buy, high sell” approach, prioritizing low-level entry opportunities at this stage. It is recommended to gradually build long positions in the $88000-$88500 range, with a stop-loss below $87500, and targets set at $90000-$90500; if the price encounters resistance around $90500-$91000 during a rebound, a small short position can be attempted with a stop-loss at $91500, targeting $89000-$88500. Strict position control is necessary to avoid chasing rallies or panic selling. Be patient and wait for clear signals before entering the market.

Disclaimer: This article is for personal trading ideas only and does not constitute any investment advice. Cryptocurrency markets are highly volatile, and trading involves significant risks. Investors should make rational decisions based on their own risk tolerance and bear the consequences of their trades independently.