Daily chart shows that Bitcoin has closed in the red for three consecutive days, testing the lower Bollinger Band. Although there was a doji star correction, the bearish trend remains steady, and the weak downside pressure persists. On the 4-hour chart, after a brief support at the middle band, the rebound is limited, with four consecutive bearish candles accelerating downward, now approaching the lower band for a weak decline. The main moving averages are arranged in a bearish configuration, technical indicators are weak, and the market faces further downside risk.
Bitcoin: Range around 88500-89000, with a rebound at 89500, and potential downside targets of 87500-86000.
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Daily chart shows that Bitcoin has closed in the red for three consecutive days, testing the lower Bollinger Band. Although there was a doji star correction, the bearish trend remains steady, and the weak downside pressure persists. On the 4-hour chart, after a brief support at the middle band, the rebound is limited, with four consecutive bearish candles accelerating downward, now approaching the lower band for a weak decline. The main moving averages are arranged in a bearish configuration, technical indicators are weak, and the market faces further downside risk.
Bitcoin: Range around 88500-89000, with a rebound at 89500, and potential downside targets of 87500-86000.