Bitcoin continued its downward trend yesterday but did not break below the recent low points. Due to data influences, although the bears have some volume, it is not too significant; do not be misled by surface signals. I believe that as long as this wave of retracement does not continuously break the low points, then the rebound upward remains the main rhythm.

Looking at the daily chart, the Bollinger Bands show a contraction in a parallel pattern. The recent rise has pushed the moving average indicators up, and they are currently receiving effective support. Yesterday's dip coincidentally reached the support point of the lower band of the moving average, so with support at this position, the next stage will need to support a rebound.

On the four-hour level, the K-line chart is narrowing. From the end of August to now, the price has oscillated within a boxed range, with the lowest point at 75500. As long as this position is maintained going forward, the bulls do not need to panic excessively, and the current outlook can continue to remain bullish at low levels.

Today's strategy continues to focus on the area below 76500-76100 to accumulate bullish positions in batches, with the target looking towards breaking above 78200 and then aiming for 79800, with the points for reference only.

Follow Feishu account, how to relieve worries, only Jiang Wei. A treasure analysis blogger with high emotional value, sharing trading education for free, bringing stable strength and clear guidance in the restless trading market, traversing three cycles of bull and bear markets and years of practical trading experience, skilled in naked K, trends, Dow theory, Gann, harmonics, Chan theory, wave theory and other technical analysis, gathering into personal unique insights.

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