Since this week, the BTC trend has shown characteristics of "slow rise, stagnant fall, alternating rapid rises and falls."
In the past 6 trading days, the market has continued to maintain a narrow range of fluctuations;
It is expected that in the coming days, BTC may first welcome a wave of upward momentum. Due to a prolonged period of sideways movement accumulating energy, the subsequent risk of a sharp decline has eased compared to before.
Given the current limited price fluctuation range, I will not repeat it here; interested readers can refer to previous content. Here are the key points:
Firstly, in the 4-hour and shorter time frames, the key resistance levels on the chart have gradually repaired, creating conditions for short-term upward movements;
Secondly, in the 12-hour and longer time frames, the previous compound M neckline and the long-term moving average system still constitute strong resistance, limiting the initial upward space;
Thirdly, from a daily perspective, the two touches or recoveries of the MA250 moving average on April 7 and 9 were accompanied by huge trading volumes, which is typical behavior of major players.
Since April 12, the price has continued to consolidate around the high point of the massive bullish candle on the 9th, which may indicate the stage of major players washing out and accumulating positions, further supporting the expectation of upward movement.
