Bitcoin has once again broken through the 100,000 mark, which has sparked curiosity about its subsequent trend. Will it continue to rise or will it pull back for adjustment?
In the evening, Bitcoin started rising from around 98,300, climbing all the way until it broke the 100,000 mark, reaching a peak of about 101,000, currently hovering around 100,500.
From a four-hour perspective, Bitcoin is near the upper Bollinger Band. The Bollinger Band is a technical analysis tool; when the price is near the upper band, it usually means the price is at a relatively high level. At the same time, the KDJ indicator is trending upwards, and the MACD shows a golden cross and is moving upwards, indicating that bullish strength is increasing. Generally, an upward KDJ indicates that there is upward momentum in the short term, and an upward MACD golden cross is also a signal that bulls are in control.
However, from a one-hour perspective, after Bitcoin broke through the upper Bollinger Band, the KDJ is trending downwards, and although the MACD is moving upwards, the bullish strength is decreasing. A downward KDJ suggests that the upward momentum may be weakening in the short term, and despite the MACD moving upwards, the decay of bullish strength is a signal that needs attention. This subtle change in the balance of bullish and bearish forces makes the subsequent trend of Bitcoin full of uncertainty.
Key resistance and support level analysis
Above Bitcoin, attention should be paid to the resistance level of 101,400. If it can break through this price level, it is expected to further reach 101,800, and if it goes further, there is a chance to reach 102,500. These key resistance levels are important reference points for judging whether Bitcoin can continue to rise.
Below, the support level of 99,700 should be monitored. Once this support level is broken, the price may drop to 98,500, and if the situation continues to worsen, it may further decline to 97,800.
Above Ethereum, pay attention to the resistance level of 3,830. If it can break through this resistance level, it has the potential to reach 3,880.
Below, watch the support level of 3,760; if it breaks, it will drop to 3,690.
Midnight operations focus on pullback trades primarily, with breakout trades as a supplement; caution is advised for risks.
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