12.2 Evening Analysis

From the daily chart, Bitcoin has been forming small doji candlesticks for several consecutive days, indicating that the market has established a range-bound pattern between 9.5 and 9.8.

Although the price can remain above the MA5/10-day moving averages, it has not yet had the opportunity for a significant upward movement.

On the 4-hour chart, Bitcoin's price has retraced to the MA30-day moving average, and attention should be paid to the loss of this line during the day.

At the same time, the 1-hour chart has also retraced to the MA256-day moving average, which was repeatedly mentioned in last week's analysis article as the line around which contention would occur.

Old Wang's analysis suggests that Bitcoin should retrace to around 94200-93500, with a target of approximately 96000—97500.

Auntie suggests a retracement to the 3560-3520 region, with a target of 3630-3680.