Core logic: Trend is king, pullback is a 'buy signal'

From the analysis of the 1-hour + 4-hour Bollinger Bands (BOLL) combination, BTC has entered the 'bullish trend + pullback accumulation' phase, with the mid track of Bollinger Bands becoming a key support level, and the cost-effectiveness of going long during pullbacks is extremely high:

1. 4-hour cycle: Mid-term trend 'strong bullish', the middle track is the 'lifeline'

- Bollinger Bands parameters: BOLL(20,2,0), mid track (MID) 120369, upper track (UP) 123297, lower track (LOW) 117441.

- Trend characteristics:

- Price continues to run above the middle track, and the middle track is steadily inclined upwards (steep slope, representing strong bullish momentum);

- Recently broke through the 4-hour upper track (123297), although there was a pullback, it did not effectively break below the middle track, verifying the effectiveness of the middle track support.

- Capital cooperation: 4-hour level cumulative net inflow exceeds $85 million, large funds locking in long positions, trend difficult to reverse.

2. 1-hour cycle: Short-term pullback 'washing', the middle track is the 'golden buying point'

- Bollinger Bands parameters: BOLL(20,2,0), mid track (MID) 121733, upper track (UP) 124329, lower track (LOW) 119137.

- Pullback signal:

- Price breaks through the 1-hour upper track and shows a volume contraction pullback (trading volume has not significantly increased, indicating limited selling pressure, more like 'washing');

- Currently, the pullback is near the 1-hour middle track (121733), this point is both a technical support and overlaps with the previous upward trend line, providing double support to strengthen the safety of going long.

3. 'Buy on pullback' strategy: Back against support, allocate in batches

1. Entry point selection:

- Aggressive: 1-hour middle track around 121733 (close to short-term support, betting on a quick rebound);

- Conservative: 4-hour middle track around 120369 (mid-term trend anchor, stronger defensiveness).

2. Stop loss setting:

- Break below the corresponding cycle lower track or previous low (e.g., 1-hour lower track 119137, 4-hour previous low 118920), strict stop loss to avoid trend reversal risk.

3. Take profit target:

- First target: Break through previous high 124474 (short-term speculative breakout acceleration);

- Second target: Historical high pressure level (dynamically adjusted based on extended trend, can be combined with daily level calculations).

4. Risk warning: Beware of 'false pullbacks' turning into 'true reversals'

- If during the pullback the trading volume surges + breaks the middle track and rebounds weakly, be alert to the exhaustion of bullish momentum, exit in time;

- News black swans (such as policy negatives, tightening liquidity) may break technical rules, need dynamic assessment.

Conclusion: BTC is currently in a 'healthy pullback under bullish trend', the double cycle mid track of Bollinger Bands forms a 'both offensive and defensive' buying range. As long as the middle track support is effective, the pullback is an 'entry opportunity', not a trend ending signal. It is recommended to combine position management, allocate in batches, and seize the 'low buy window' of the bullish main wave!