BTC Short-Term Trend Analysis: Key Support Holds Steady, Awaiting Directional Choice
As of now, the price of BTC (Bitcoin) is hovering around 101,532, overall in a high-level consolidation range, with the market brewing for a new round of directional breakout.
Support Level:
In the short term, the 100,000 level is a significant psychological and technical support. It has been tested multiple times without breaking, indicating strong bullish defending willingness below.
Resistance Level:
The upper range of 102,500-103,000 constitutes a short-term resistance zone. If this area can be broken with increased volume, it will open up space for an attack towards 105,000-106,800.
Technical Signals:
Short-term moving averages (EMA 5/10) are flattening and leaning bullish, with prices running close to the upper band; MACD dual lines are tending to converge, and the momentum bars are shortening, indicating that a market shift is approaching; the RSI indicator remains between 50-60, suggesting that there is still upward momentum in the short term.
Operation Suggestions:
Aggressive traders may attempt to build long positions in the 100,800-101,200 range with light positions, strictly setting stop-loss below 99,800. Cautious traders are advised to wait for a breakout above 103,000 for a safer follow-up.
Currently, BTC is in a critical consolidation phase, with the market in a stalemate between bulls and bears, and a market shift window approaching. Operations should focus on timing and position control, waiting for clear direction before making significant moves.
Market conditions change rapidly; managing risk well is essential to seize real opportunities!
