On Friday, both upward and downward movements encountered resistance, unable to break through the range-bound fluctuations!

At midnight, we provided reference points of 94000 and 95000 for short positions. Overnight, Bitcoin's overall volatility was not very large, with the high only reaching around 93600. The rebound strength weakened, and the price stabilized at a high level, entering a fluctuation phase.

From the current pattern, the daily K-line formed a clear hanging man after closing as a small bullish cross on the previous day. The EMA trend indicator is still contracting upward, with the EMA15 trend line about to overlap with the EMA120. The K-line has also returned to operate within the Bollinger Bands, making it unlikely for a single-sided movement to occur in the short term, while the probability of range-bound fluctuations increases.

On the 4-hour line, the price of Bitcoin halted its rebound and formed a symmetrical triangle trend at a high level. Although the EMA trend indicator still leans toward bullish, the MACD shows a divergence trend at the top of the K-line, indicating clear signs of major selling at high levels, especially following consecutive large bullish candles. Therefore, caution is advised when chasing at high levels.

On Friday morning, Bitcoin maintained the midnight strategy, with a short position still recommended near the 94000 area. The focus remains on the 91600-92000 range below, with additional long positions if a retracement stops. The strong resistance above is still around the 95000 line! #加密货币总市值重回3万亿