From the 1-hour BOLL indicator perspective, the BTC price quickly rebounded after previously dipping to around the lower Bollinger Band at 89801.2, forming a strong reversal pattern known as a golden needle bottom. Subsequently, it broke through the middle band and stabilized, with the current price remaining above the middle band and ample upward space to the upper band.
The characteristics of the Bollinger Band further corroborate the bullish trend. After rebounding from the lower band, the Bollinger Band shows an expanding trend, indicating that while short-term volatility is increasing, upward momentum is gathering. The price's stability above the middle band, which serves as a dividing line between bulls and bears, also signifies that the short-term trend has shifted from weak oscillation to a relatively strong upward movement. Additionally, the price's intraday pullback has not shown significant decline, further validating that the 92000 level has transformed from a resistance level to a support level.
The recommendation for BTC is around 92000, 91500, targeting 95000.
