BTC Intraday Market Situation:
1. Continuing last night's viewpoint, after the technical breakthrough of the 1-hour range contraction, the direction is downward, followed by a significant continuous rebound. The current price is at the upper edge of the range, maintaining a strong position in the 1-hour range, with no divergence in the range, keeping a parallel expansion.
2. The 4-hour K-line shows a significant decline followed by a doji and a strong rebound in the second 4-hour line rhythm, which is a clear stop-loss signal at the 4-hour level. It can also be observed that as the price dips near the 93,000 support, the rebound is exceptionally strong, forming a 4-hour long-tailed candle.
Currently, the 4-hour price is attempting to break through the middle line to return to the upper edge of the range. The range has contracted to 1800 points, maintaining horizontal movement, with no divergence, and the trend is optimistic.
3. On the daily line, the price remains above the daily upper edge and MA7, currently maintaining a strong upward trend, with the range contracting and moving upward, with no divergence.
Support and Resistance:
Short-term support is referenced at 93,400 for the hourly level, with the weekly 91,700 middle line support acting as a buffer, and key support referenced at the daily MA120 — 91,600 position.
Short-term resistance is referenced at 94,600 for the 1-hour range and 95,250 for the 4-hour range top resistance, with key resistance still referenced at the previous high on the daily line of 95,700.
Short-term Assessment:
The intraday trend is relatively strong, with the S&P pre-market slightly down, but BTC maintains a strong hourly level. It seems that the BTC strategic reserves in Arizona tonight have caused a short-term independent BTC market.
Continued verification can wait until the U.S. stock market opens tonight to see if the U.S. stock market and BTC continue to diverge.
