Bitcoin remained oscillating around 26027, and Bitcoin rose 3.6% to $26,794 on the day, which was the largest one-day increase since July 13. The gains come after bitcoin's worst week since November and the collapse of crypto exchange FTX, with smaller market-cap coins such as Cardano, Solana and Polygon posting bigger gains.
Bitcoin BTCUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fluctuates at a low level, the short-term decline may continue, the market is shrouded in short-term sentiment, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;
Resistance level: 26433 26709
Support level: 25756 25530
Trading strategy: bearish below 26166, target 25756 25530
Alternative strategy: call above 26166, target 26433 26709