Recently, the price of Bitcoin has shown a fluctuating consolidation pattern on the hourly level. The market's bulls and bears are engaged in a tug-of-war around key price levels, with the price slightly retracing after reaching a short-term high, but overall it remains above important support areas. From the market observation, the price has received buying support multiple times during dips, indicating strong support below. Additionally, the influx of market funds continues to increase, reflecting a gradual warming of investor sentiment, providing a foundation for price stabilization. Although there were brief fluctuations during the session, the extent of the retracement was limited, and the bears failed to form effective suppression, suggesting that the current market's dominant force still leans towards the bulls.

From a technical perspective, the short-term adjustment of Bitcoin is nearing its end, and it is expected to continue its upward trend. After repeatedly testing the key support area, the price has stabilized, gradually forming a bullish structure of “higher lows.” If it breaks through the upper edge of the recent consolidation range, it will open up further rebound space. Although the MACD indicator is in a corrective state, the bearish momentum continues to weaken, and after the fast and slow lines converge, a golden cross is expected to form, providing technical support for the rebound. Furthermore, the influx of funds and open interest remain at high levels, indicating that the main capital has a strong confidence in the future market, with clear signs of bottom-fishing. Overall, the market is well-prepared for short-term consolidation, and if it holds the support level, Bitcoin may start a new round of fluctuating upward rhythm. It is recommended to pay attention to bullish opportunities after a breakout.

Long near BTC 83800, target 85800

Long near ETH 1580, target 1640