#BTB 4-hour K-line period, since the bottom of 74500, there has been a clear upward support line. This upward trend line is too steep.
BTB has risen from 74500 without experiencing a pullback; both adjustments were sideways instead of downward. Last night, BTB broke through the weekly consolidation pressure line upwards and continued to create new highs. The upward momentum has already become somewhat insufficient. After reaching a new high here, do not have overly high expectations in the short term. The upper pressure zone is between 98500 and 99500.
In the short term, before BTB broke through the weekly box consolidation pattern last night, the highest point was 95800. After standing above 95800 last night, the market pulled back to stabilize at 95800 before continuing to rise, confirming the effectiveness of the upward break of the highest point of the 95800 box. It was a valid upward breakout.
BTB has risen from below 80000. The continuous consumption of upward momentum, after last night's upward break of the highest point of the weekly consolidation pattern at 95800, has significantly reduced the upward momentum in the market compared to the upward momentum when it broke above 86500 and 89000 earlier last week. The strength of the upward movement after breaking the consolidation pattern is equivalent to a middle-aged uncle of 4.5 years old, eager but unable.
As the upward momentum is exhausted, the selling pressure from short-term profit-taking may emerge, and the short-term technical analysis may end the upward trend since the bottom at 74500. After standing above 95800, for BTB's cyclic market trend, focus on the support line for oscillation upwards above 95800. If the support at 95800 is maintained in the short term, the overall strong consolidation and upward oscillation will continue. In terms of the remaining two or three days of today or this week, losing 95800 would indicate the beginning of a short-term pullback.
Once the market experiences a medium to short-term bullish profit-taking pullback, ending the upward trend since 74500, the profit-taking adjustment is likely to fall below the support at 92800 (the lowest support of the weekly box consolidation) and test for support near 90000 or in the range of 89000 to 90000.