BTC is currently in a key area, and the overall structure is positive. High points continue to rise, indicating that bulls have a sustained breakthrough intent. Although there is heavy selling pressure above, each upward attempt is accompanied by a pullback, but the main forces are digesting chips and solidifying the bottom. On-chain data shows that long-term holders are nearing the end of their selling, institutional funds continue to absorb, ETF net inflows are strong, and listed companies like MicroStrategy are leveraging BTC, reflecting confidence in long-term value, but one should be wary of the potential risks brought by the average cost line.
Technical Analysis
In the past 24 hours, the BTC price fluctuated between 87600.04 and 89627.24 USDT, showing an overall upward trend. The current price is about 89050 USDT, close to the upper resistance zone. The support level is at 87698.5 USDT, with a support range of 87548.5 - 87845.0 USDT, and a resistance range of 88320.0 - 89600.0 USDT. If the price approaches the support level, one might consider going long; if it breaks the support, a stop-loss is needed.
Market Outlook and Strategy
The market is awaiting macro data guidance, and the sideways period is expected to end soon. If a successful breakthrough of key resistance occurs, a new round of increase is likely to begin. Investors should closely monitor market dynamics, seize entry opportunities, set reasonable stop-losses, and control risks.
