Recently, the price of Bitcoin has entered a period of consolidation after facing resistance at high levels. The hourly chart clearly shows a core structure of step-like upward movement. Although there have been multiple attempts to break through previous highs, the price has consistently been constrained by key resistance levels, failing to achieve an effective breakout. However, during the pullback, the support levels that the price has retraced to are showing a gradual upward trend, indicating that the underlying buying strength is beginning to strengthen. The evening market provided clearer signals, as the price briefly dipped to the lower band of the Bollinger Bands before quickly stabilizing and rebounding. This not only validates the effectiveness of the current support level, but also indicates that the bullish momentum in the market has not been completely exhausted by previous highs and still has room for release. From the perspective of candlestick patterns and volume coordination, the selling pressure corresponding to the short-term head formation has completed concentrated release, and the exchange of chips is nearing adequacy. The subsequent market is likely to enter an upward correction channel, and it is essential to focus on the opportunity for a second breakout above the previous high resistance level.
Trading Suggestions:
Bitcoin: Buy around 114500, target 117000
Altcoin: Buy around 4200, target 4300
