The market once again broke through strongly in the early morning, but there wasn't much continuation. In the short term, it has returned to a range of oscillating adjustments.
From an overall perspective, the intraday market trend structure is relatively simple, with bulls and bears alternating in strength, and the volatility points are not large.
The four-hour chart shows a W-shaped bottom formation, with a double bottom test. In the short term, the slight damage to the peak provides solid bottom support for subsequent upward movement. Combined with the previously analyzed strong resistance range of 105000-102500, the inability to effectively break through previously makes it difficult to see a strong continuation after this peak. After a long period of oscillation and adjustment within this range, it is still accumulating strength for the future.
On the hourly chart, the competition between bulls and bears is more evident; each closing, whether upward or downward, leaves long shadows as confirmation. With the further contraction of the range, the market approaching the weekend will also enter a narrow oscillation adjustment range.
The follow-up strategy for Bitcoin is to buy low and sell high within the range of 104500-103000, considering the issue of range shifting after the price refreshes previous highs or lows.
The altcoin strategy is to flexibly allocate within the range of 2650-2550.
