Monday Morning Bitcoin Sharing
A new week has begun, and looking back, the price trend during the midnight period shows a stair-step upward movement. The Bitcoin price peaked at around 115700.
From the analysis of the 1-hour time frame, the current price is maintaining a consolidation pattern around 115100. Meanwhile, the middle band of the Bollinger Bands maintains an upward trend, providing strong support for the price. In the short term, closely monitor the price's breakthrough of the upper band of the Bollinger Bands. Further observation shows that during the price increase phase, trading volume significantly expands, indicating strong bullish momentum; while in the subsequent pullback process, trading volume contracts, indicating a temporary consolidation of bullish forces, but the overall uptrend has not reversed. If the price can continue to stabilize above the middle band of the Bollinger Bands, it still has the potential to challenge the upper band. During this process, it is necessary to closely watch the support situation near the middle band of the Bollinger Bands.
Morning Bitcoin looks to be bullish at 114000-114300, targeting 116000$BTC