It's 8 o'clock

Consolidation is the calm before the storm, both bulls and bears are waiting for a trigger.
Core contradiction in the market: confrontation between bulls and bears in a shrinking volume oscillation.
Currently, BTC has been stuck in the 116,300-118,000 range for over 24 hours, with the 1-hour K-line showing a 'narrow converging triangle'. This pattern often suggests a turning point is imminent, but direction depends on three factors:
Volume shrinkage: The turnover rate in the past 6 hours is less than 2%, indicating that major funds have not engaged on a large scale, and retail investors are observing closely;
Key moving averages converge: The 4-hour MA30 and MA200 form double support, but 118,000 above is a previous high + psychological level, providing significant resistance;