As can be seen from the chart, BTC is currently trading in a range of fluctuations and fluctuating between the support and pressure of multiple moving averages. According to the Bollinger Band analysis, the price is currently close to the upper track and the fluctuations are relatively violent, indicating that there may be a breakthrough or callback in the short term.
Support and resistance level analysis:
First support level: The current support range is around 96,000. The price has been supported in this area many times. If the price falls back to this range, a rebound trend may occur.
Second support level: If the price breaks through 96,000, the second support level can be set around 94,500. This point has been a strong support level for the market many times, and breaking this level may increase downward pressure.
Expected operational suggestions:
If the price retraces to 96,000: Consider looking for buying opportunities within the support range for a short-term rebound operation, with a target price of 97,500 to 98,000.
Stop-loss level: 95,000
Based on yesterday's trend, BTC may maintain a volatile consolidation today, but a breakout from the support or resistance level may bring significant fluctuations. It is advisable to consider entering the market within the support range of 96,000 to 94,500. If it breaks through the upward resistance level, consider selling at a high. The reasonable operational range is within the support range of 96,000 to 94,500, and risk control should be emphasized while remaining flexible.
