📊 $BTC （2025-05-23 07:10）｜Long-Short Index: 85 / 100（Strongly Bullish）

BTC has entered a high-level consolidation phase after rising for several consecutive days, the structure remains stable, and momentum is not out of control, but there may be a directional choice in the short term.

🔹 The 4-hour candlestick chart maintains a typical bullish arrangement, with MA7, MA25, and MA99 still diverging upward. The price is stable above MA7, and any pullbacks are halted; although the MACD momentum has slightly weakened, the histogram has not turned green, and the RSI remains stable around 70, indicating that the overall trend has not broken but displays characteristics of high-level sideways movement.

🔹 The 1-hour candlestick chart shows high-level oscillation and consolidation, with continuous sideways movement close to two days, and the price center slowly rising. The MACD has entered a phase of oscillation and dulling, and the RSI remains above 60, indicating that short-term enthusiasm has eased, but the bullish structure has not been damaged.

🔹 The 15-minute candlestick chart shows a gradually narrowing oscillation range, and short-term volatility is compressed. The MACD shows initial signs of a golden cross, and the RSI has crossed above 50, indicating a possibility of a slight test of the upper boundary in the short term.

📉 Technical Indicators Summary:

（1）MACD: Still above the zero axis for all periods, the bullish momentum has not weakened, but the momentum has converged;

（2）RSI: The 4H and daily RSI remain in the 70+ range, indicating strong continuation, but caution is needed for short-term chasing highs;

（3）Bollinger Bands: The upper bands at all levels are close to the price, caution is needed for short-term "top-touching oscillation."

🧭 Volume-Price Structure Observation:

（1）Trading volume is gradually shrinking, and high-level oscillation is a normal turnover phenomenon;

（2）If it can break through $112,000 with increased volume, a new round of trend attack will form;

（3）If it falls below $110,000, it will retest the MA25 support area in the short term.

📰 Brief Comments on News:

（1）U.S. Treasury yields continue to decline, maintaining buying of risk assets;

（2）ETF net subscription data has slightly rebounded, and on-chain activity continues its upward trend;

（3）The overall market remains in a moderately optimistic state, with no significant disturbance signals.