10.23 Bitcoin market analysis

BTC is oscillating and it's exhausting! 108,500 is a huge pressure point, how can we break through, folks?

This market is really frustrating! BTC is swinging back and forth around 108,000, and every time it rushes to 108,500, it gets knocked down. The support at 107,500 is holding up, creating a double bottom structure, but the pressure above is just too heavy!

📊 Core Signal Interpretation
1. What the K-line tells you:

The double bottom formed at 107,500 in 1 hour, providing short-term support.

108.5k pressure is heavy, multiple tests have failed to pass.

The daily chart is still in a declining channel, and the overall trend has not turned bullish yet.

2. The indicators hide secrets:

MACD: 1-hour golden cross but the strength is very weak, rebound momentum is insufficient.

RSI: Hovering around 50, both bulls and bears are on the sidelines.

Moving averages: All in a bearish arrangement, all above 109,000 are resistance.

3. The Truth About Trading Volume:

During the rebound, the volume shrank to 258 coins, and no one is chasing it.

A massive drop with a volume of 1548 coins, funds are fleeing.

The daily volume has decreased while rebounding, and the bearish trend remains unchanged.

💰 Please refer to the image below for specific operational strategies.

#抄底币种推荐 ⚠️ Reminder from the veteran driver
Current rhythm: 1-hour level oscillation is weak, lingering in the range of 109000-107000.

Key position:

Resistance above: 108500 > 109000

Support below: 107500 > 107000

Break level: 106800 (must run if it breaks)

Position Discipline:

Single open position ≤8%

Leverage ≤ 3x, don't get carried away.

Reduce positions near resistance levels

Remember: the trading volume is currently extremely low, indicating that large funds are on the sidelines. In this kind of market, sudden changes are most likely to occur, so be sure to set stop-loss orders, and don't hold onto your positions!

(All point distances are reasonable, and risk control is in place. In a volatile market, sell high and buy low, and take profits when you can!)