The BTC daily level is supported by the 90-day price moving average. If it stabilizes or usher in a bottoming rebound

BTC continued to consolidate on the weekend, and the currency price dropped to as low as $ 8,400 and stood back above $ 8,500 again. The hour-level shock bottom range has been formed. OKEx analyst Neo believes that as the hourly trend stops near $ 8500 and enters the oscillating trend, the high point of the rebound will gradually move down, and the low point will move downwards in a similar manner, with the continuous decrease in the volume It is a typical pattern of bullish oscillating channels. If the currency price can break through the upper edge of the channel and is accompanied by an increase in trading volume, then this pattern is highly effective. If the above two conditions are met, the probability of a false breakout is large, so investors need the validity of the upper edge of the channel to determine the market outlook in the short term.