In the early morning market, Bitcoin surged to 94874, faced resistance at 95000, and retraced. The 4-hour technical analysis shows Bitcoin reaching the upper edge of the consolidation range, with the Bollinger Bands opening downwards, fluctuating near 95000 or preparing for a drop.
In the early morning market, Bitcoin surged to 94874, faced resistance at 95000, and retraced. The 4-hour technical analysis shows Bitcoin reaching the upper edge of the consolidation range, with the Bollinger Bands opening downwards, fluctuating near 95000 or preparing for a drop.
4.28 Pancake Morning Analysis $BTC Narrow fluctuations last night, with reduced volume indicating range consolidation. It is recommended to adopt a short-term high short strategy, focusing on the resistance levels of 94000 - 94500. If touched, consider light short positions with a target of 93000 - 91000.
The secondary market is currently in a downward channel, it is recommended to short at the current price, targeting 1780. Pay attention to this level; if it breaks, you can reverse and go long, targeting 1850.
Recently, the pullback of $BTC has intensified; do not be misled by false signals. This is a buildup before a rise. 92450 is a key support level; as long as it holds, the bulls are likely to dominate the market, with a target looking towards 98000.
Major Concerns! Arizona's Bitcoin Reserve Bill Reaches a Critical Juncture
On Tuesday morning Beijing time, two Bitcoin reserve bills in Arizona will enter their third review and are very likely to open for a final vote. If passed smoothly, this will become the world's first state-level Bitcoin strategic reserve case, which is considered a significant milestone for $BTC .
The outcome of this bill vote has far-reaching implications; even if it fails to pass, the impact on the market may be relatively limited. However, once implemented, it will undoubtedly rewrite the history of the industry. It is advised to closely monitor this key time window, during which short-selling operations should be approached with extra caution to avoid risks posed by market volatility triggered by favorable policies.
Trading Suggestion: You can try to short near 95000 - 95500, target 94000 - 92000.
The daily line closes with a doji star, with both bullish and bearish momentum in a stalemate; the hourly chart shows a narrowing range. The liquidation data shows balanced strength, and market fluctuations are expected in the evening.