BTC intraday increase of 3.5%, breaking through the $90,000 integer level, currently priced within the 88,000-94,500 oscillation range, gradually approaching the key node for directional choice.
From a technical structure perspective, the daily 20-day moving average has crossed above the 50-day moving average, forming a golden cross, with prices stabilizing above all major moving averages, and the Bollinger Bands showing an opening expansion trend. In the 4-hour chart, prices are testing the upper Bollinger Band pressure, while the 20-day EMA constitutes recent important support.
The RSI daily reading is about 58, in a bullish advantage range and not in overbought territory, indicating that the upward momentum still has room for continuation. In terms of volume, as prices rise, trading volume has significantly increased compared to previous periods, with market participation rebounding; the futures funding rate remains slightly positive, market sentiment is good but no overheating signs have appeared, and the total number of open contracts across the network has reached $42.3 billion, setting a new historical high.
Key resistance levels to watch above are the 92,000-94,500 area; if effectively broken, look up to 96,000-97,500. Key support below is focused on the 89,000-90,000 range, with strong support located around 87,500, which is also the convergence area of multiple cycle moving averages.
In terms of operations, the market is still mainly characterized by range oscillation in the short term, it is recommended to focus on the breakthrough situation of the 94,500 resistance and 89,000 support. It is advisable to maintain caution in positions until the direction is clear, be wary of false breakout structures, and pay attention to setting reasonable stop losses.
