Good morning, today is another day full of hope!
Bitcoin maintained a fluctuating upward trend during the day yesterday, suddenly surged in the afternoon, and then experienced high-level fluctuations in the evening. After the US stock market opened, it did not continue to rise, which is a good thing.
The trading volume was about 60% of the previous day, which is considered normal volume. The price increase encountered resistance at the daily MA30 line and did not see a significant pullback; instead, it consolidated at a high level.
We mentioned earlier that there wouldn't be a direct V-shaped reversal. The fluctuating trend serves two purposes: on one hand, it allows short-term profit-takers to exit, and on the other hand, it is to repair the candlestick pattern and adjust for power accumulation in preparation for the next wave of upward movement.
The resistance level for Bitcoin on the daily chart is 98300, and the support level is 94200.
