Market Review and Short-Term Trend
Bitcoin fluctuated upwards following the opening of the U.S. stock market, initially reaching 104,500 before pulling back to 103,600 to confirm support, and then making a second attempt to rise to 104,600, forming a range-bound fluctuation. The current price is maintaining within the range of 104,000-104,600, with lows gradually rising, indicating strong market buying pressure, presenting a slightly bullish fluctuation pattern in the short term.
The 4-hour chart shows that MACD is about to cross bullishly, and RSI remains at a neutral to slightly strong level of 50, combined with a healthy volume-price structure of a retracement on low volume and a rebound on high volume. The support level at 103,600 has been tested three times without breaking, forming a solid bottom. If the neckline at 104,600 is broken, it will open up upward space, targeting the previous high pressure area at 105,500.
Trading Strategy and Risk Control
It is recommended to lightly position long orders in the support zone of 103800-104000, with a stop loss set below 10300; if 104,600 is broken, additional positions can be added targeting 105,500. Caution is required if there is an unexpected drop below the support at 103,500, which would delay buying and wait for a stronger support level near 103,000 to reassess the entry timing. This evening, focus on the impact of U.S. stock trends on market sentiment.
