📣 Bitcoin is just one step away from the 100,000 mark. Will the market makers easily break through?❓

The price of Bitcoin surged to around 99,800, just one step away from the 100,000 mark. However, it was unable to maintain the momentum and instead saw a pullback, indicating that the significant 100,000 level is not easily breached.

【Analysis of Bitcoin price trend from the 4-hour chart】

Candlestick pattern:

Recently, the candlesticks have shown a continuous upward trend, forming multiple bullish candles, demonstrating strong market momentum. In the daily timeframe, the price has broken through the previous high of 99,888, indicating strong bullish strength.

Technical indicators:

The MACD has been steadily rising in the 4-hour timeframe, with both the DIF and DEA in positive territory, and the MACD histogram expanding, showing strong upward momentum.

The RSI is nearing the overbought zone in the 4-hour timeframe but has not yet entered extreme overbought conditions, suggesting a potential need for a pullback in the short term.

EMA7, EMA30, and EMA120 are all arranged upwards, with the price above all the moving averages, supporting the current upward trend.

Trading volume:

The trading volume in the daily timeframe has increased, matching the price rise, indicating that capital inflow is driving the price higher. The trading volume in the 4-hour timeframe has been quite volatile, especially during price breakouts, further confirming the validity of the breakout.

5/8 Evening Bitcoin operation stable operation suggestion:

It is recommended to enter short positions around 99,600-99,800 for Bitcoin, with target points: 98,800-98,100-97,600. Watch for the pin position at 96,000.

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