In the past two days, the BTC market has performed stably and remained within a high fluctuation range, which coincides with our previous prediction. There is still a heavy chip lock at the top of the market, and the pressure is obvious. Although it tried to challenge a new high yesterday, it failed to tear the pressure barrier above.
From the perspective of the daily chart, BTC is still trapped in a wide shock frame, showing that both bulls and bears are evenly matched. On the hourly chart, we noticed that a moderate upward force is brewing. Next, this hourly upward trend line will become a key indicator of the market. As long as this trend line remains erect, the market is expected to continue its oscillating upward rhythm; once it falls, you need to be alert to the arrival of market adjustments.
Specifically, the key resistance level above BTC is set near $65,500. This position is like a solid fortress. If it is successfully overcome with a significant increase in trading volume, it is expected to expand the horizon to a higher resistance area of $68,300.
On the contrary, if the market comes under pressure and falls, $62,400 will be the first support test point. If this line of defense also fails, the next support area may retreat to around $60,600. At that time, changes in market sentiment and capital flows will be particularly worthy of attention.
