$BTC Pullback test We just mentioned the support below, the longer the test, the weaker the momentum of the market. If the four-hour closing does not close above, then the positions near 95400 should look for an exit and wait for a lower entry during the U.S. market. For the U.S. market entry, refer to 93800-94100.

Every year, there is usually a slight decline reminiscent of a program effect on Christmas Eve, but in the past 5 years (2019-2023), there have been 4 years that entered a bull market after Christmas, with only 2021 seeing a decline after Christmas. This year is similar; the recent days have seen a stronger decline than the rise. Will it rise again as expected after Christmas?

I believe the bull market has not ended; my previous views remain the same. On Saturday, I mentioned that in the short term, it might enter a range-bound fluctuation. To be honest, it hasn't met expectations, as the pullback was a bit larger than anticipated. Fortunately, it has not yet broken the previous low, and a rebound is starting to appear. The four-hour K-line shows signs of a bullish engulfing pattern, but after reaching the mid-track, it is facing pressure and starting to pull back. I will pay attention to whether the pullback to the 94800 position can form short-term bottom support, and above that, I will focus on the 97300 position. If it breaks above this position and maintains two four-hour pullbacks without breaking, then we can basically confirm the end of the Christmas program effect.

In the European session, you can directly enter a long position near 95400 and look at the upward target, focusing first on the breakthrough situation at 97300 above.

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