【BTC Technical Analysis｜The Convergence Critical Point is Approaching, Which Direction Will be Chosen?】

I really hope BTC goes through a washout because at that time the profit at $74,000 was all in the car, damn it, the key point is hoping it can come to pick me up!!!!

Bitcoin has continued to oscillate in the range of $108,500 – $109,500 in recent days, with both the hourly and 4-hour charts displaying a clear converging wedge structure, indicating ample momentum.

As an ordinary player who entered the market in early 2024, I would like to briefly analyze the current trend from a technical perspective and share my thoughts.

🔍 1-Hour Chart: Short-term Oscillation and Accumulation

Multiple touches on the lower support level (around $108,500), not yet effectively broken;

RSI is neutral to bullish, and the market remains cautious;

If it breaks above $109,500 with volume, it is expected to test $110,000+, otherwise it may retrace below $108k.

⏱ 4-Hour Chart: Triangle End, Direction Selection Approaches

MACD is converging, red bars are shortening;

If this round of行情 cannot effectively break upwards, it will face adjustment risks, with support at $106,800.

📅 Daily and Weekly Charts: Structure Intact, Trend Remains

The daily chart still stands above the 20-day moving average (≈$106,800), Bollinger Bands are tightening, and the volatility signal is strengthening;

The weekly chart is in an uptrend, but RSI is nearing 70, so caution is needed for overbought conditions;

Once it stabilizes above $110,000, it is expected to challenge the year's high of $112k or even higher.