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The current 4-hour chart is in a retracement phase after a decline. If the price fails to stabilize during the upward move, the 4-hour MA5 will continue to decline. The Bollinger Bands are opening up, with the upper band turning downward, the middle band trending downward, and the lower band moving upward.
The three lines correspond to prices 125, 122, 120.
On the 4-hour timeframe, bullish volume is increasing, indicating a possible continued upward trend.
On the 1-hour timeframe, bullish volume is beginning to strengthen, suggesting a potential upward trend.
Moving Averages: The 4-hour chart's MA5 and MA10 form a golden cross and are trending upward, with the K-line above the short-term MAs MA5 and MA10.
On the 1-hour chart, the MA5 and MA10 also form a golden cross and are trending upward, with the K-line above the short-term MAs MA5 and MA10.
MACD:
MACD indicator
The 4-hour MACD is above the zero line, indicating increasing bullish momentum.
The 1-hour MACD is above the zero line, indicating increasing bullish momentum.
RSI Indicator:
The 4-hour RSI is currently in the normal trading range, with a composite crossover corresponding to the range 62, 62.
The 1-hour RSI is currently in the normal trading range, with a composite crossover corresponding to the range 75, 71.
Conclusion: The market is oscillating with a slight upward bias, expected to reach a high point near 125.
Resistance levels: 125, 127, 130
Support levels: 122, 119, 117
High-positioning strategy: Short position around 126
First take profit: 123, second take profit: 121
Low-positioning strategy: Enter around 120
First take profit: 122, second take profit: 124