Market Quick Review: BTC

From the current market view, Bitcoin has shown a pullback after reaching the upper channel, currently retreating to the support level around 105,378 on the 4-hour chart.

Although the strong upward momentum has been interrupted, the overall structure has not changed. As long as the support level of 104,900 is maintained, the upcoming trend may still sustain a sideways upward movement.

If buying continues to enter, BTC is expected to further push towards a new high. A pullback to lower levels can still be seen as an opportunity to go long.