In the trading session early yesterday morning, the market comparison bottomed out at a temporary low of 103,879, immediately triggering a strong rebound. Bullish forces quickly consolidated, driving prices continuously upward, breaking through key resistance levels and reaching the 104,795 mark. With an accurate forecast of market trends, we decisively implemented a buying strategy at the low point, successfully capturing a substantial profit of nearly a thousand points.
Currently, the overall market is in a range-bound fluctuation pattern, with both bulls and bears evenly matched, and no significant directional breakout has formed. This deadlock has resulted in limited price movement, displaying typical characteristics of narrow range oscillation.
From the analysis of the four-hour technical chart, the candlestick pattern shows an interlacing of bullish and bearish formations, indicating intense competition between both sides at the current price range. As neither the key resistance level above nor the important support level below has been effectively broken, the market finds it difficult to form a unilateral trend. It is worth noting that although the short-term rebound rhythm is relatively mild, technical indicators have released positive signals: the middle band of the Bollinger Bands has begun to turn upward, suggesting that bullish forces in the market are gradually strengthening; at the same time, the four-hour candlestick pattern shows that the market has undergone a prolonged consolidation, with continuous accumulation of bullish momentum and the characteristic of gradually higher lows, further confirming that the market is actively building up for the next wave of upward movement.
In the short term, refer to the Silk Road large pancake at 104500-104200 for buying, looking at 105500-106000; the auntie reference is 2500-2520 for buying, looking at 2550-2580. $BTC
