BTC Intraday Market Depth Analysis Technical Trends
1 Hour Level: Continuing last night's assessment, the price broke downward after a period of contraction, followed by a series of rebounds, currently reaching the upper boundary of the range and successfully stabilizing in a strong zone.
Indicators show no divergence, and the range is in a trend of parallel expansion.
4 Hour Level: The candlestick first declines then rises, quickly forming a pin bar after the drop, accompanied by a strong rebound of the second candlestick, creating a clear signal of a stop in decline.
A strong rebound occurred when the price tested the support level of 93,000 USD, forming a long tail pattern.
The current price is testing the mid-range resistance, with the range compressed to 1,800 points, maintaining a sideways movement with no divergence, and the market outlook is optimistic. Daily Level: The price is firmly above the daily upper boundary and the MA7 moving average, maintaining an upward trend, with the range continuing to contract and showing no signs of divergence.
Key Levels
Support Level: Short-term focus on 93,400 USD (hourly level), the weekly mid-range 91,700 USD provides a buffer, and the daily MA120 moving average at 91,600 USD is the core support;
Resistance Level: Short-term resistance at 94,600 USD (1 hour range), 95,250 USD (4 hour range top), with key resistance at the daily previous high of 95,700 USD (April 25).
Market Assessment
BTC shows strong performance intraday, diverging slightly from the S&P futures' minor decline, possibly driven by tonight's BTC strategic reserve news from Arizona. It is recommended to closely monitor the correlation between BTC and the US stock market after the US market opens to further validate the sustainability of an independent market trend.
