From the 4-hour candlestick chart, it can be seen that BTC has been rising continuously recently, with the current price at 98,518 USDT, close to the previous high of 99,660 USDT. The bulls are performing strongly, but there are signs of consolidation below key resistance, and short-term investor sentiment is becoming more cautious.
Yesterday's Market Review:
Rebound after a Pullback: BTC rebounded to 98,500 USDT after gaining strong support near 96,800-97,000 USDT yesterday.
Trading Volume: Yesterday's volume broke through short-term moving average resistance, indicating strong buying power in the market, but upward momentum appears slightly insufficient.
From the perspective of Bollinger Bands, moving averages, RSI, and other technical indicators, BTC has a certain demand for consolidation in the short term, but the overall trend remains bullish, and there is a possibility of another challenge to the 100,000 USDT mark after adjustment.
Resistance Level (Target Range): 99,500-100,000 USDT
If the price approaches this area but the volume is insufficient, it is advisable to gradually reduce positions to lock in profits and guard against false breakout risks.
Expected Volatility Range: Today's price is expected to fluctuate between 96,800-99,500 USDT, with an intraday fluctuation of about 100-150 points. Pay attention to the direction after breaking key support or resistance.
3. More Technical Indicator References
Moving Average System:
The 5-day and 10-day moving averages have converged and are diverging upward again. The short-term trend is bullish, but if the price falls below the 5-day moving average (currently about 98,140 USDT), the probability of short-term adjustment is relatively high.
The 30-day moving average is steadily rising, providing strong support for the trend.
Bollinger Bands (BOLL):
BTC is currently operating between the middle and upper bands of the Bollinger Bands, the band width is gradually narrowing, and it may enter a consolidation phase in the short term. Attention should be paid to whether it breaks through the upper band with increased volume.
RSI Indicator:
RSI is currently in the 68-70 range, close to the overbought zone, but has not yet entered an extreme state, with a slight pullback possible in the short term.
Trading Volume:
Yesterday's volume broke through key moving average resistance. If today's trading volume remains high, the probability of breaking through 99,500 USDT is significant.
4. Today's Strategy Summary
Bullish Strategy Operation:
If the price pulls back to 97,500 USDT and finds support, positions can be built in batches, with a stop-loss set at 96,800 USDT.
If it breaks through 99,500 USDT with increased volume, it could target 100,000 USDT or even higher, but it is recommended to gradually reduce positions to lock in profits.
If it falls below 96,800 USDT, caution is advised, and wait for stabilization signals.
Today's Preferred Direction: Overall maintain a bullish mindset, but be wary of false breakout risks and control position sizes.
BTC's current trend is stable and slightly bullish, focusing on the battle between bulls and bears in the range of 97,500-99,500 USDT during the day. If the price can effectively break through at high levels with increased volume, it may open up further upward space; if it adjusts and pulls back to the support range, it still presents a buying opportunity.
Investment should pay attention to market sentiment and risk management, with strict stop-loss settings to cope with potential fluctuations.
Recent market volatility has brought new investment opportunities. Through Lao Chen's in-depth analysis and data research, some potential high-return opportunities have been identified. Whether it's the momentum indicators of Bitcoin or the technical signals of other mainstream coins, Lao Chen will provide you with detailed analysis to help you navigate the market.
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