$BTC The current Bitcoin market is significantly affected by the cryptocurrency bill passed by the U.S. House of Representatives, resulting in notable price fluctuations. From a four-hour technical perspective, the MACD red bars continue but momentum is weakening, indicating a decline in bullish strength; the DIFF and DEA are leveling off above the zero axis, with the rebound strength converging, and there is a need to be cautious of support risk on a pullback. However, the RSI indicator is fluctuating in the 60-65 range, not reaching the overbought zone, still allowing for upward space, and a breakthrough of 121,000 USD is needed to confirm the continuation of the trend.
From a fundamental perspective, the advancement of U.S. regulatory policies provides long-term support for Bitcoin, with stable institutional capital inflows, but short-term profit-taking and emotional fluctuations may trigger volatility.
The operational suggestion is to focus on buying on pullbacks:
- Bitcoin: a long position can be established in the 118,000-118,500 range, with attention on 120,000 above.
- Ethereum: a long position can be established in the 3,570-3,600 range, with attention on 3,700 above.
