$BTC Bitcoin surged again yesterday to above 95000 before facing pressure and retreating, with a low drop to around 92800. Although it briefly fell below the lower boundary of the four-hour chart, it subsequently created a lower shadow and the price returned to the track.
Currently, although there is pressure above that has not been broken, the lows below are continuously rising, and bulls still hold a dominant advantage; breaking through may just be a matter of time.
From the daily chart, Bitcoin is showing an upward trend relying on short-term moving averages;
The weekly chart, on the other hand, continues to show consecutive bullish candles with increasing volume, indicating a strong mid-term uptrend.
Therefore, the short-term operating suggestion for this week is to primarily focus on buying on dips.
On the four-hour chart, Bitcoin is using the middle band of the Bollinger Bands as a lifeline for bulls, forming a pullback and surge pattern.
Yesterday's late session retreated to the middle band and then quickly dipped and rebounded, recovering lost ground. The dip serves as a correction and accumulation of power for the bulls to further rise.
This week's opening remains at a high level, with previous low points of retreat becoming important support.
The hourly chart shows that after a series of pullbacks, the space is now limited, and the price is running again near 94000.
If it can stabilize at this price level, there is still upward momentum for the future;
Conversely, if the closing price falls below this level in the next one or two days, the short-term trend may weaken. Subsequent short-term operations need to closely monitor the conversion of long and short forces.
