Bitcoin has not reversed its weak trend, and the short-term important resistance is 10370

According to the data of OKEx perpetual contract (BTC/USDT): since the sharp drop on September 2, although it has not continued to set new lows, the rebound is also weak and has been blocked many times in the resistance zone near 10370. At present, this price has not been effectively broken.

OKEx analyst Charles believes that since the key medium-term support of 10,700 was broken last week, Bitcoin's medium-term trend has fallen into a bearish trend. The recent rebound has been lacking in sustainability and weakness, which is in line with expectations. Judging from the current trend structure and the relationship between volume and price, the downward movement of important rebound highs has not changed, and the rebound lacks large trading volume. It is estimated that it will be difficult to get out of the weak situation in the short term.

In addition to the short-selling advantage in the trend structure, the continuous adjustments in the external capital markets, led by the U.S. stock market, have also severely suppressed the bullish sentiment in the currency market. Don't blindly "buy the dip" before you see a clear turn for the stronger. Even if there is a long opportunity, start from the short term.

It is recommended to continue to focus on the 10370 resistance line. Before this price is clearly stabilized, the main idea is to be bearish. The potential strong support area below is the 9300-9500 range. This range is located in the central area of ​​the wide range consolidation area constructed from May to July. The transaction is particularly dense. The probability of the currency price stopping the decline and rising is high when it is touched for the first time. Risk warning: There are risks in entering the market, and investment should be cautious.