After experiencing a turbulent adjustment yesterday, Bitcoin welcomed a new round of fluctuations in the early morning. Its price first attempted to break through the $105,190 mark but failed due to heavy selling pressure above, subsequently entering a period of oscillating correction. By morning, the price dipped to a low of $103,500 and is currently maintaining a volatile state around that price level. From an overall structural perspective, the Bitcoin market is in a critical phase of range compression. Influenced by the further reduction in market expectations for interest rate cuts, a certain degree of correction appeared on the chart in the morning. On the 4-hour candlestick chart, the upper Bollinger Band shows a clear downward trend, indicating strong resistance above; meanwhile, the middle and lower bands are gradually rising, with both bulls and bears engaging in fierce competition around the central price level. It is worth noting that the coin price has been running between the middle and upper Bollinger Bands for a long time. Although short-term bullish forces hold a slight advantage, the overall market remains in a state of stalemate. Switching to the 1-hour candlestick chart, the characteristics of the oscillating market are more pronounced. The pressure point above continues to suppress the price, while the support point below also shows strong resilience, with bulls and bears alternating in dominance at different times. Given that the current range contraction is not yet complete, it is expected that Bitcoin's price will continue to oscillate within the existing channel until one side's strength breaks this balance.
Long positions for Bitcoin are to be entered around these two positions: 103500–102200, with a stop loss at 101450
#BTC重返10万
Long positions for Bitcoin are to be entered around these two positions: 103500–102200, with a stop loss at 101450
#BTC重返10万
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BTC
101,916.48
-2.54%
