Due to the weekend factor, Bitcoin fluctuated in a narrow range of a few hundred points around 94,500 yesterday. From the 4-hour trend, after the MACD death cross here, there was no pullback, but it continued to operate sideways within the range. It must be said that the market maker is very strong. Currently, the range is between 92,000 and 95,400, with two levels of resistance at 96,000 and 98,000 above, leaving very little upward space.

Today is the last day of this week, and a bullish weekly close is inevitable. It has already rebounded for 3 weeks, and it is expected that it will take at most 2 more weeks of consolidation before it comes down. In terms of the weekly chart, one more pullback is needed; the probability of going directly above 100,000 and breaking new highs is very low.

Currently, the daily chart shows a bullish trend, with a small bearish candle yesterday. If there is another bullish candle, it would be an 8-day consecutive rise; however, the probability of a pullback increases. The 20-day moving average is rising quickly, currently around 87,000, and it will continue to rise. If there is a pullback later, first look for support near the 20-day moving average.

Summary:

1. Bitcoin is still in the range between 92,000 and 95,500; for medium-term investors, the cost-effectiveness of buying low here is not high, better to wait.

2. Bitcoin needs to break below 92,000 to initiate a pullback; continue to wait.