$BTC Evening View:
Bitcoin during the day has really been stuck and not moving at all! Whether it can move or not, it seems like the blood is congealing.
Bitcoin has been consolidating after an upward movement for a day without establishing a direction, still oscillating within the box.
As long as it doesn't break below the midline of the box at 91354 and remains above it, it won't revisit the lower boundary of the box at 89374. If the midline is broken, it will definitely test 89374 again.
The position indicated by the small white arrow has already attempted to break upwards 4 times unsuccessfully at 92743; if it tries 2 more times and still can't break through, a pullback is inevitable. If it can't break through 92743, it cannot sustain the uptrend. Only by breaking through the key resistance level of 92743 can it look towards the previous high near 94543. If it cannot go up or down, being able to oscillate in the range of 92743-91354 is already good.
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Bitcoin with volume broke through 92574, entering long on the right side; 92065 with volume broke down and rebounded but could not recover, entering short on the right side, with proper stop loss.
Bitcoin on the hourly level broke and stabilized at 92743, looking upwards at 93600-94543; remember that if it can't break 92743, it won't rise.
On the 4-hour level, breaking down at 92049 looks down towards 91462-90289; if it breaks 92049, a pullback must be taken.
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Continuing to look at the chart: Bitcoin on the 4-hour level has been entangled back and forth between the 20-day and 50-day EMA for the past few days, going up and down. This time it has broken through the 20-day and 50-day EMA, but it is uncertain how many days it can hold. In the early morning, after breaking through the 20-day and 50-day EMA, it came back to test the support of the 20-day EMA effectively, but did not continue to rise. The 4-hour level has already closed 2 doji candles in a row, which is not a good signal.
As long as the 4-hour level cannot stand above the 200-day EMA in a day, the risk of decline has not been lifted. Right now, Bitcoin is stuck between the 20-day and 50-day EMA; being stuck in this position can go up or down. If it goes up, it continues to rise; if it goes down, it gets cold again. Therefore, it is not suitable for trading at the moment; waiting for a clear direction to enter will be better. Pay attention to changes in volume, meeting adjourned.
