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According to the latest Technical Analysis, the Digital Money market is in a critical accumulation phase. From the daily chart technical patterns, the BOLL indicator shows a clear convergence trend, with the distance between the upper and lower bands gradually narrowing. This phenomenon usually indicates that the market is about to face an important directional choice.
On the K-line chart, the body of the candlesticks is generally small, reflecting a balance of power between the bulls and bears. The middle band of the BOLL is showing a flat trend, while the MACD indicator is converging near the zero line, and trading volume continues to shrink. These technical indicators collectively suggest that the market is undergoing a consolidation phase.
It is worth noting that against the backdrop of gradually narrowing price fluctuation ranges, once the price effectively breaks through the upper band or lower band of the BOLL, it may likely indicate that a new market trend is about to begin. Therefore, investors need to remain vigilant and closely monitor the direction of the price breakout.
In terms of short-term trends, the market tends to continue downward. For Bitcoin, it is recommended to pay attention to the trend in the range of 107300-107600. If there is an effective breakthrough, the short-term target price may drop to around 106000. At the same time, Ethereum is also worth watching, with around 2510 being a critical price point, and the short-term target may drop to around 2420.
Overall, the current market is at a critical moment of building momentum. Investors should remain cautious and closely monitor the direction of price breakouts and changes in trading volume to seize market trends in a timely manner. At the same time, attention should also be paid to risk management, setting reasonable stop-loss levels to cope with potential sharp fluctuations.