Yesterday, the highest price of BTC was 10438 USDT and the lowest price was 9850 USDT (Binance).The 24-hour trading volume of the market is 157 billion USDT.
The daily chart of Bitcoin for the last 5 days has the same shape, and the high and low points are also similar. It goes down to 9800 and pulls up to 10300 – 10500 USDT. The daily line has developed like this and becomes an “electrocardiogram”.
After 5 consecutive days of sideways trading, the estimate that should be sold has also been sold, and the estimate that should be bought has also been bought. From the emotional side, I can feel that the market is pushing more downward.
That is to say, it is more likely to remain in the range of 9500 to 9800 USDT.
Technically, yesterday’s RSI at the daily level had a bottom divergence, and the price closed at a new low, but RS did not have a new low point, but this bottom divergence from the price low point is not too obvious. Observe today for another day, if the price continues to close today , RSI has not set a new low point, then the bottom deviation can be determined.
After the divergence occurs, it means that the market has a rebound and repair demand, so is the stop position at the gap of 9600? Or the lower 9200, which is impossible to judge, but it is unlikely to fall below 9000 USDT.