Ideal State Map

Despite the afternoon Bitcoin's rebound followed by a pullback, creating pressure around 106,000, the 5, 10, and 20-day moving averages continue to extend and diverge upwards, and they are still above the 5-day moving average. The daily K-line's upward trend remains very strong. The daily K-line can certainly maintain a strong consolidation above 100,000, waiting for the convergence of the 10, 24-day moving averages and the 5-day price.

There will also be relatively strong buying support above 100,000, as the market has not yet pulled back to 100,000 to digest the buying support near that level. Recent movements may perform strong oscillating consolidation in the range of 100,000 to 106,000. When the market first pulls back near 100,000, it might be a good opportunity for short-term buying on dips.

In the medium to short term, it cannot be ruled out that Bitcoin may face resistance again near this year's highest point, forming a medium to short-term peak. The consensus reached between China and the U.S. on tariffs in the afternoon could mean the good news has been fully priced in, leading to a “sell the fact” movement in the market. From a technical perspective, if a short-term top is to be formed here, it will also require a considerable amount of time. It's better to observe more and act less.