The market is always in a cycle; the darker it gets, the closer the dawn. The rationality you uphold today will eventually transform into the light that illuminates the path to wealth tomorrow. Observing from a four-hour cycle, Bitcoin is conducting multiple tests on key resistance levels, indicating that the market is currently in a phase of chip turnover and momentum buildup near critical price points. Despite multiple attempts to push the price higher without effective breakthroughs, the buying strength below remains strong, reflecting that the overall bullish sentiment in the market is still quite robust. At the same time, the price continues to oscillate near the upper band of the Bollinger Bands, with trading volume contracting in synchronization, showing that both bulls and bears are becoming cautious here. Switching to a one-hour cycle, the price has not yet touched the upper band of the Bollinger Bands before a pullback occurs, which is a normal technical adjustment aimed at actively digesting short-term profit-taking. Such pullbacks help to clean up floating chips in the market, further solidifying the foundation for an upward trend and accumulating momentum for future breakthroughs. Overall, the support area below Bitcoin remains solid, and the upward structure has not weakened. The current oscillation and consolidation can be viewed as a normal adjustment phase in the continuation of the trend. Once the momentum buildup is completed, the market is expected to test resistance again upward.
Operation Suggestions:
Bitcoin: around 88000, target 91000
Altcoin: around 2950, target 3200
