Monday Evening Market Analysis

According to the analysis results of the daily chart, Bitcoin has shown a small doji pattern for several consecutive days recently, clearly indicating that the market has entered a range oscillation mode within the price range of 9.6 to 9.8. Although Bitcoin's price has successfully maintained above the moving averages MA5 and MA10, unfortunately, it has never gained enough momentum to achieve a significant increase in volume.

Further observation of the 4-hour chart reveals that Bitcoin's price has retraced to near the MA30 moving average. This dynamic requires us to closely monitor whether this moving average can be effectively defended during the day, as it may become a key support or resistance point for subsequent market movements.

On the 1-hour chart, the price has once again touched the MA256 moving average. This key technical level has been emphasized multiple times in last week's analysis, indicating that it will be the focal point of market competition. The current market behavior reaffirms this, suggesting that the contest around this moving average may continue in the short term, significantly impacting price trends.

Bitcoin retraced to the vicinity of 94700-95000 to go long, targeting 97300-98000.