Bitcoin Breaks Below Middle Band, Shorting Suggested

According to Zhang Lihui's September 7 Bitcoin market analysis, the 4-hour Bollinger Bands for BTC have narrowed, and the intraday trend has broken below the middle band. This indicates a downward movement. The MACD shows balanced volume below the zero axis, with fast and slow lines in a death cross and continuing to diverge.

The KDJ and RSI have turned downward and crossed again, suggesting there is still room for a decline in the short term. Lihui advises those not yet positioned to focus on shorting at higher levels.

Support may be found at the intersection of MA60 and the lower band; if this level is broken, further testing of the MA120 level could occur this week.