1.5 Sunday Early Morning Bitcoin Market Analysis
During the intraday trading session, Bitcoin's market trend fell into a state of stalemate, exhibiting a range-bound oscillation, and failed to show significant trend changes, with relatively limited volatility. This lukewarm situation is a norm for the weekend market, lacking strong buying and selling forces to drive prices, resulting in fluctuations within a relatively narrow range. After reaching a daily high of around 98300, Bitcoin faced obvious upward pressure, leading to a corrective trend. The price fell all the way down to a low point of around 97438, and this small fluctuation became one of the few notable movements of the day, constituting the only small climax of the day. The intraday layout of Bitcoin shorts achieved a space of 1000 points.
Analyzing from the daily level, it can be observed that when the price approaches the upper resistance at around 98363, it encounters strong resistance. However, a deeper exploration of the internal 4H to 12H trend structure reveals clear signs of upward momentum. This means that if the price can stabilize at its current position, it may further expand upward space and achieve more significant results. Looking at the 1H to 4H timeframe, we can see that the trends at various levels during the session have completed the repair work on the bullish side. The price has successfully escaped the constraints of the bottom area, constructing a relatively positive trend pattern. The current market is at a critical point after two bullish pullbacks, and it seems that the market is quietly gathering strength, attempting to break through the pattern resistance formed by the previous horizontal upper range. Under this situation, there is likely a valuable opportunity for a third significant surge.
Bitcoin: Around 97000-97500 is a potential buy, short-term target 99000
Ethereum: Around 3570 is a potential buy, short-term target 3650
