Bitcoin Market Analysis

After breaking through the short-term supply line, Bitcoin has experienced a pullback and has retested the short-term supply line. However, the volume during the pullback is relatively small, indicating that buying pressure still holds the advantage. The probability of continuing to rise is relatively high.

Whether Bitcoin can smoothly break through the previous high depends on the volume and price performance in the resistance area of 10.8-11.2. In fact, there aren't many trapped positions in this resistance area; it mainly depends on whether the buying pressure is sustainable.