Good morning

 
The intraday market of Bitcoin continues the consolidation of yesterday. The evening price tested the resistance at the 84000 level. Currently, it has retraced to run near the 80,000 support level. The support at 81,000 is weak, and the recent short-term rebound momentum is still acceptable. Therefore, although the market tends to decline, blindly shorting before breaking the position is not advisable.

 
On the short-term hourly chart, the wedge range is continuously narrowing, with the high slowly moving down. In recent K-line candles, there is a oscillating downward trend, with the price fluctuating in the range of 80000 to 83000 without a clear breakthrough. The 4-hour MACD is in the negative zone, and the fast and slow lines have formed a death cross, indicating significant short-term downward pressure. The 1-hour MACD is weakening below the zero axis without a clear reversal signal. The 4-hour RSI is around 40, in a neutral to weak area. The 1-hour RSI hovers around 35, approaching oversold levels but without divergence. The 4-hour price is running below EMA7, EMA30, and EMA120, with the moving averages in a bearish formation, suppressing price rebounds. The 1-hour price briefly crossed above EMA7 before falling back, showing clear short-term moving average pressure. The overall trend is still adjusting within the wedge range. In terms of operation, it is recommended to focus on short positions at key support and resistance levels, with long positions as a secondary consideration.

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