Market Interpretation: Short-term sentiment in the economy has improved, stimulating prices to quickly break through the 'chip' layer. Pay close attention to the selling pressure during turnover!
The price of BTC is currently in a strong position in the 1-hour and 4-hour range. The price increase during the day has led to a strong expansion of the hourly level range, with significant divergence in the 4-hour range, indicating a short-term need for a pullback.
The daily price is at the top of the strong range, with the overall range showing a contracting upward trend, and no divergence or pullback demand.
Support and Resistance:
If the 4-hour range adjusts, refer to the short-term support at 98,000 for the 4-hour range. For a deeper pullback in the 4-hour range, refer to the daily support at 96,500.
For breakout resistance, refer to around 100,000, a non-technical resistance level. There is a large accumulation of chips around 98,000 - 100,000. Currently, due to market sentiment, the chips have not immediately formed concentrated selling pressure. Once the price touches the psychological barrier of 100,000, it may trigger a large amount of concentrated selling pressure during turnover.
