Starting this week, the trend of BTC has exhibited the characteristics of 'slow rise, stagnant decline, with alternating sharp increases and decreases'.

In the past 6 trading days, the market has maintained a narrow range of fluctuations.

It is expected that in the coming days, BTC may first welcome a wave of upward momentum. The prolonged period of consolidation has accumulated a certain amount of energy, thus reducing the risk of a sharp decline compared to before.

Given that the current price fluctuation range is relatively small, I won't elaborate further. If interested, readers can check previous related content. Here are a few core points summarized:

First, in the 4-hour and shorter timeframes, the key resistance levels have gradually been repaired, creating favorable conditions for short-term upward movements.

Second, from the perspective of 12-hour and longer timeframes, the previously formed composite M-top necklines and the long-term moving average system still constitute strong resistance, which will limit the space for initial upward movements.

Third, from a daily perspective, on April 7 and 9, when BTC touched or reclaimed the MA250 moving average, it was accompanied by significant trading volume, which is typical behavior of major players.

Since April 12, the price has been consolidating around the high point of the huge bullish candle that appeared on the 9th, which is likely a phase of accumulation after the major players have washed out the weaker hands, further confirming the expectation of an upward movement.