Analyst 7 analyzed the trends of Bitcoin, mentioning in the post that if it breaks 95200 in one hour, the short-term outlook is bullish. Now, considering the larger time frame, the only resistance above seems to be the double top resistance at 110000. If reached, it may lead to a significant pullback. Those looking to short at resistance should be cautious of false breakouts. It is not recommended to go too large; it’s better to wait for confirmation before adding to positions.

Understanding the BTC Trend with Three Charts

(P1) The daily chart clearly shows that since dropping to 74,500 on April 7, it rebounded 30% to nearly 98,000. However, there are a large number of order blocks nearby. Between December and mid-January, a double top pattern was established. If it wants to break through this large rectangle in the short term, BTC may collect liquidity in a head and shoulders bottom formation to break through this large cycle's rectangular oscillation.

(P2) If it falls below 91,000 on the four-hour chart, BTC may need to establish a right shoulder in the range of 84,000 to 78,000. Currently, if considering a long position, the stop-loss is around 3.4%. From the four-hour perspective, it is only recommended to focus on the price range of 84,000 to 78,000; no other considerations are necessary.

(P3) The one-hour chart shows a more obvious order block that failed to break through after three validations. In the short term, if it can break through 95,200, there may be a bullish outlook. If it falls below 91,500, one should consider going short.