$BTC on the 4-hour level chart shows that the candlestick bodies have been oscillating within a narrow range between the middle and upper bands of the Bollinger Bands. The Bollinger Bands channel exhibits a horizontal extension, with the distance between the upper and lower bands narrowing. The RSI indicator hovers around 62, which, although not in the overbought zone, is close to the warning line. Combined with the resistance of the upper Bollinger Band, the price indeed faces significant resistance on the upside. The current price is closely following the upper Bollinger Band, with small pullbacks occurring each time it touches the upper band, but the lows of the pullbacks are gradually rising, forming the early shape of an ascending triangle. This technical pattern indicates that despite significant pressure from above, market buying support remains solid, and a pullback can be anticipated in the morning.
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