#BTC

BTC Market Analysis:

The major cryptocurrency has been range-bound for a week, the CME gap waited for a week, and finally it has been filled, but first it surged to a new historical high. Under the influence of negative PPI data, the gap was filled, and in the short term, there is no demand or expectation for a drop in the major cryptocurrency. It remains to be seen whether it can continue to form a range-bound trend here, giving altcoins enough time to explode!

In terms of trends: The chart shows that after breaking through the historical high, a top 'Evening Star' pattern appeared at a high position. The subsequent drop just happened to retest the lower end of the previous fluctuation range, which also coincides with the lower edge of the CME gap. Next, we should focus on the support zone below. As long as it does not effectively break down before, there is still hope for continued range-bound movement or upward momentum!