Yesterday, Bitcoin's icon slightly fell back to 92,800 but then rose, peaking at 95,630. Overall, it is still within the range of 92,000 to 95,600. The recent strength of Bitcoin has not declined mainly because MicroStrategy icon company invested $1.4 billion at a cost of over 92,000 to buy Bitcoin.

Since Bitcoin has formed a range, short-term operations are also simple. If it breaks above the range, lightly betting long, the stop-loss point is 1,000 points below the range at 94,500, and the take-profit is between 97,000 and 98,000, which offers relatively small space. If it breaks down below the range, the stop-loss is 93,000.

On the daily chart, the 20-day line has reached around 88,200. If it chooses to break down from the range, the first target will be near the 20-day line.

From a weekly perspective, it has rebounded for 4 weeks from 74,000, so next week is likely to be a turning week. This blog believes that the probability of Bitcoin declining afterwards is quite high; the weekly structure lacks a retest, and medium-term investors should continue to wait.

Summary:

1. Bitcoin is operating within a short-term range, waiting to break the range balance.

2. It is expected that next week will be a turning week for Bitcoin, with a high probability of starting a decline.