Yesterday, the Bitcoin market showed some positive signals, but caution is still needed. Although a Bullish line was formed, initially breaking the falling channel, the road ahead for long positions is still long.

From a short-term perspective, although there are signs of a stop in the decline, the bearish sentiment has not been completely released. We may need to wait for a second bottoming to occur.

In terms of technical indicators, the MACD energy bars are still declining, and the fast and slow lines are also on a downward trend, indicating that bearish sentiment persists. The CCI indicator remains below -100, showing that market sentiment is stabilizing, but long positions momentum has not yet formed. The OBV indicator shows that the fast line is still below the slow line, but the slow line remains stable, making the subsequent trends worth watching.

The KDJ indicator has entered the oversold zone, but there are no signs of stabilization yet. The MFI is in a neutral range, while the RSI is weak; a continuous series of bullish lines is needed in the future to improve the RSI trend.

In terms of moving averages, the price has fallen below the 120-day moving average, losing important support. The 30-day moving average has also started to turn downwards, while only the 120-day moving average remains stable. The Bollinger Bands have shifted from wide fluctuations to a downward channel.

Overall, although the market has shown some signs of halting the fall, long positions still need to patiently wait for the accumulation of more positive factors. Investors should closely monitor the changes in various technical indicators, awaiting clearer reversal signals.