Tuesday, April 22, 2025

The current trend of Bitcoin is showing a typical range-bound oscillation pattern. Although there has been a pullback, the intensity has not yet reached the ideal range, and overall it remains in a phase of continuous adjustment within a bullish trend. It is worth noting that each round of upward movement is accompanied by significant pullbacks, forming a rhythm of "two steps forward, one pause, four steps back." This trend is testing the strength of the key resistance level above while also examining the effectiveness of the support below.

From the four-hour candlestick pattern, there have been consecutive formations of doji candles with long upper and lower shadows, indicating a fierce contest between the bulls and bears at critical price levels. The current strong support level to focus on is around 86500. If this level can stabilize effectively, it will provide important support for subsequent upward movements. Given that the repair of technical indicators is not yet complete, a wide range oscillation pattern is likely to be maintained in the short term.

As for trading operations, I personally suggest continuing a low-buy strategy for Bitcoin, with potential long positions around 87500, aiming for a target near 89000!