The current BTC price is running around 110,500. From the hourly, 4-hour, and daily candlestick charts, the bullish structure is obvious, with strong momentum continuing in the short term. The trend has the potential for further upward movement, but this does not mean one can blindly chase after the rise.
[Technical Structure and Key Signals]
Hourly chart: Continuous bullish candles pushing higher, MA moving averages diverging bullishly, and the candlesticks strongly standing above all short-term moving averages, typical of an acceleration phase.
The CCI indicator has entered the overbought zone but has not yet diverged, indicating that momentum is still being released.
4-hour chart: The price is oscillating near the previous high of 110,830, forming a small flag consolidation pattern. If it can stand firm at a high level, there will be further breakout potential.
Daily chart: This round of rebound started around 85,000, going through multiple retests for confirmation. Currently, it has reached a new high in the rebound and stands firm above the upper Bollinger Band, indicating a confirmed medium-term reversal and continuation of the bullish structure.
Forecast direction: Short-term bullish, but beware of the risk of a pullback after a surge.
We are currently in the latter half of the acceleration phase. It is not recommended to blindly chase after the rise; one should wait for a retest confirmation or a second follow-up after a structural breakout.
Current price: 110800
First support level: 109,300
Second support level: 108,000
Stop loss level: 111600
