From the daily candlestick chart, the price has broken through the key position of the golden ratio 0.618 and climbed to the top of the ascending flag pattern. This position is significant, attracting many to try short positions. The main reason is that the larger trend has entered an extreme overbought state, with reversal signals beginning to appear, and major funds may exit at any time, triggering a price adjustment.
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Further observing the details of the daily candlestick chart, the price fluctuation range is evident, with a maximum reaching 97850 and a minimum dipping to 96385. In terms of technical indicators, MACD shows a top divergence but is still increasing, while the DIF and DEA indicators continue to expand upward, indicating that bulls still have some strength; the candlestick extends upward relying on the golden ratio, the Bollinger Bands are opening upward, with the upper band rising to 100000 and the lower band holding around ninety thousand, suggesting a significant range of fluctuations ahead.
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🔥 II. Technical Analysis on the Four-Hour Level
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Switching to the four-hour level perspective, $BTC
is in an ascending flag state. This pattern is typically a continuation pattern in the price trend, indicating that after a brief consolidation, the price may continue its original upward trend. The upper resistance level focuses on the pressure area above 98000, where a large amount of previous trapped positions and profit-taking positions have accumulated, creating obstacles for price upward movement; the lower support level is at 96000, and if the price retraces to this level, it is expected to gain support and stabilize.
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The MACD technical indicator continues to expand, showing that bullish funds are continuously entering; the DIF and DEA indicators have formed a golden cross and are spreading, further strengthening the bullish signal. Overall, in the short term, BTC still has upward momentum, and the intraday trading strategy remains focused on buying the dips.
