10.31 BTC Short-term Market Analysis | Seeking Opportunities Amidst Volatility

In the afternoon, the hourly chart of the pancake showed two consecutive bearish candles. After touching the upper Bollinger Band, it quickly retraced and is currently oscillating around the middle band position of 119500. The Bollinger Bands are in a contracted state, entering a range-bound oscillation pattern in the short term.

[Technical Signal]
🔸The trading volume continues to shrink, and the market sentiment is cautious.
🔸The MACD forms a death cross above the zero line, indicating a weakening of short-term upward momentum.
🔸Key support looks at the mid-track of 119000, and pressure focuses on the 120000 integer level.

[Operation Strategy]
🎯 Range strategy: Short lightly near 119800-119500, target 118500-117500, stop loss at 120600.
🎯 Breakthrough idea: If it stabilizes above 120000, you can take a small long position, targeting 121000-121500, with a stop loss at 119500 #比特币 #BTC؛ #web3