A sudden drop of 500 dollars rebounded in seconds! 104370 becomes the retail investor's 'lifeline'
Middle case and Jin Zhu's personal opinion:
Let’s look at this hourly BTC chart, it’s like a 'heartbeat monitor' showing BTC prices bouncing between 105,000 and 106,500 dollars. Simply put, the colorful lines on the chart represent key levels:
Upper resistance: For example, 106,486 dollars acts like a 'ceiling', and several attempts to rise today hit it back down; 105,580 dollars is also a minor threshold, where seller power is strong, and prices revert when they touch it.
Lower support: Around 104,370 dollars is the 'buying zone', where buyers like to scoop up bargains, as seen in an example yesterday: prices dropped to around 104,000 and quickly rebounded; while 102,255 dollars is strong support, and dropping below it is like the floor collapsing.
Trading volume also helps tell the story: today's trading volume is low, indicating everyone is hesitant to make big moves; the estimated volume of 1,904 suggests a possible breakout, but the moving average line MA and MA data are inactive, with the short-term trend leaning towards 'snail pace'.
Jin Zhu's personal opinion: Combining with the latest news, I think BTC's movement today feels like 'walking a tightrope'. The upper resistance at 106,486 is too heavy, and a breakout requires strong trading volume to assist, which might trigger a wave of upward momentum. However, if it breaks below the support at 104,370, the downside risk becomes significant. Overall, it looks like short-term fluctuations dominate, with opportunities in buying low and selling high; avoid heavy positions chasing highs. In summary, the market leans neutral, and the key is whether it can hold steady above 105,580, this 'watershed'.
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