#BTC $BTC
Recent price fluctuations testing key resistance levels
In the short term, the market is in a consolidation phase, with recent low-level rebounds showing some buying strength, but there is clear resistance above, and the rebounds do not have the momentum to break through a defined trend.
Technical Analysis
Candlestick Patterns: A hammer candlestick appeared (May 31), suggesting a potential rebound; at the same time, a top distribution pattern appeared (June 6), indicating short-term correction pressure; alternating engulfing and doji patterns (late June) suggest the market may change direction.
Alligator: The three lines (Jaw, Teeth, Lips) are flat, indicating market consolidation and an unclear trend.
MACD: DIF and DEA are converging upwards but have not formed a golden cross; bullish momentum is increasing, but overall it remains weak.
BOLL: Prices are near the middle band, with the upper and lower bands gradually narrowing, volatility is decreasing, but there is rebound potential.
EMA: Prices are attempting to break through EMA(144) and EMA(169) with a bullish trend, but the breakout has not yet been confirmed.
MA: The short-term moving average (MA5) is rising but close to resistance, while the mid-term moving averages (MA30, MA60) are declining, putting pressure on prices.
Pattern: Bullish bat pattern [Point D has appeared, looking bullish moving forward]
Signal: Still a bullish signal on the 12-hour chart.
Support: Around 103,000
Resistance: Around 107,000
