Bitcoin Strongly Rises, Bull Market Signals Beginning to Appear?
Bitcoin began a strong upward trend yesterday from the price level of 94,000, soaring to around 99,500, achieving a significant increase of over 5,000 points. This market movement demonstrates strong bull market characteristics.
Currently, the 4-hour EMA moving average resistance level has been successfully broken, with the price retracing to the rebound area after a previous accelerated decline for consolidation. Once the smaller resistance levels in this area successfully convert into support, the likelihood of Bitcoin continuing to push upward will significantly increase. In terms of key price levels, it's important to focus on the support around 96,500, as the support situation at this price level is crucial for the market direction; meanwhile, attention should be on the 99,500 level above. If it can break through and stabilize at this position, a new round of upward momentum may begin, and the subsequent trend deserves close monitoring and in-depth analysis.
If you want to delve deeper into the crypto space but can't find a clue, and want to quickly understand information gaps, whether it's contracts or spot trading, you can 👉 learn more in my personal profile
