In-depth analysis of the Bitcoin market: support and resistance, trading strategies and trend views 1. Analysis of important support and resistance levels

(I) Important resistance levels

98,000 - 98,100: This range is the TPO single-point printing position and CCB target position, which means that there are specific trading data characteristics and market expected targets converge at this position, which often hinders the further upward movement of prices. It is a key area that needs to be focused on and broken through during the rise of Bitcoin.

101,200 - 101,800: It is a convergence area of ​​multiple time periods, where trading forces under different time dimensions intersect, and it is also close to the important psychological barrier of 100K. The psychological barrier itself is easy to trigger changes in investors' buying and selling decisions. Combined with the factors of multi-period convergence, this range becomes a strong resistance area, and it is not easy for prices to break through smoothly.

104,700 - 105,400: This range is both an important gap area and a higher level resistance level. The gap area usually reflects the dramatic changes in the market at a certain stage and the imbalance of the power of buyers and sellers. When the price reaches this point, it will often trigger a fierce battle between the long and short sides, and then become an important line of defense to prevent the price from continuing to rise.

(II) Important support level

94,450: It is currently a key support area and occupies an important position in the weekly structure. From the weekly level, whether the price can obtain effective support at this position plays a key role in judging the medium-term trend. Once it falls below, it may trigger a larger adjustment.

92,355: As the overnight low, although it has appeared, it still needs to be further confirmed during the regular trading hours to become a more stable and effective support point. Its subsequent confirmation is worth paying close attention to, which has important reference value for short-term trading decisions.

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