The Bitcoin daily chart shows a high and then a pullback, indicating fierce competition at the $115K level, with short-term fluctuations or increases expected.
Yesterday, the Bitcoin daily chart peaked and then retreated, forming a bearish candlestick with an upper shadow, indicating intense competition between bulls and bears at the $116,000 line.
Currently, the Bitcoin daily chart has entered the final phase of a mid-term adjustment, establishing a bottom after confirming support, but the upward pressure is significant, and the overall trend leans toward a neutral bullish outlook.
The short-term moving averages (MA7/14) continue to extend upward, with the candlesticks moving along the short-term moving averages, confirming a short-term recovery trend. However, the current price is constrained by the 30-day moving average (approximately $114,500); if it can break through this moving average, it will open up further upward space.
In terms of trading volume, it has gradually shrunk after a volume-increasing bearish candlestick, indicating that market panic has been released; recently, the market has shown characteristics of 'volume decreasing with price increases, and gentle volume increases with price decreases,' suggesting that bottom-fishing funds are gradually entering. The MACD indicator has diverged upward after a golden cross below the zero axis, and the histogram values are continuously expanding, indicating that short-term rebound momentum is accumulating.
In the subsequent market, if there is a volume breakthrough at the $115,000 line within 1-3 days, it will establish a short-term upward structure, targeting the range of $121,000 - $125,000; if it fails to break through for three consecutive days, it may continue to hover in the $111,000 - $115,000 range.
For intraday operations,
Focus on bullish opportunities at the support levels of $113,500 - $112,500 below,
And pay attention to pressure levels at $115,000 - $116,000 above.
