Observing the market, Bitcoin's price today shows significant support in the 945-947 range during its pullback.
Multiple consecutive dips have presented long lower shadows, indicating that after being pressured by bears, the price was quickly reclaimed, suggesting that short-term selling pressure in this area has clearly weakened.
From a technical indicator perspective, the KDJ and MACD across various timeframes are showing characteristics of bullish divergence, with multiple indicators simultaneously displaying a gathering bullish energy.
It is worth noting that the daily level is currently forming an ascending flag consolidation structure. After the price settles around 952 USD during the day, a positive signal of a higher low has been formed.
Combining this with the breakthrough prototype that appeared after the four-hour Bollinger Bands contracted, in a market environment lacking significant fundamental variables, once the technical pattern breaks above the neckline, the theoretical measured rise could target the 980 USD area.
As for the evolution of the mid-term trend in May, it is still necessary to observe the volume-price coordination after breaking through key resistance levels. It is recommended to adopt a right-side trading strategy, dynamically assessing market direction selection based on actual trends.
