After a period of upward movement, the market has started to pull back and adjust. The technical indicators are basically repaired, and the trend is in a sideways consolidation phase. Once the profit-taking pressure from this wave is digested, the bullish momentum may have a chance to re-energize and continue to rise this week.
Bitcoin is currently in a critical consolidation period. The mid-band support level on the daily chart is very important; every time the price falls back to this area, there is a noticeable buying interest that lifts the price for a rebound. This repeated testing of support is actually laying the groundwork for a potential rise later.
In terms of operations, the daily mid-band can be regarded as an important support level. Upward, the focus should be on the pressure zone formed by previous highs. If this resistance level can be effectively broken, a new upward space is likely to open up.
Operational suggestions:
For Bitcoin, focus on buying around 117,000-116,000, with a target of 118,500-119,000.
For altcoins, focus on buying around 4440-4430, with a target of 4490-4520.
