Will Bitcoin rise again this weekend? Analysis of this week's trend and trading suggestions

Wen Fan has no fancy language here, no extravagant boasting, just patience to remain humble in victory and resilient in defeat. We approach the market with the most genuine attitude, hoping that my years of experience can provide friends who invest in the market with a reasonable and scientific solution to add value to their investments, though it would be unrealistic to expect to always provide help at the right moment. I hope to communicate with you who are confused and lost!

This week, Bitcoin hit a new high, breaking 100,000, coinciding with a washout of 10,000 points, which has reshaped the understanding of the market for cryptocurrency players. Such market conditions have left no one immune to losses or even liquidation, while Fan Ge is the only one who avoided this extreme market situation.

After facing resistance this week, the bullish positions were sold off and prices fell, but there are still buy orders at lower prices after the decline. The temporary drop is not expected to last long, and Friday marks the release of significant non-farm payroll data, with gold price fluctuations being limited; we will focus on this week's non-farm payroll data.

The recent range fluctuations in Bitcoin over the past two days reflect that the market is still digesting changes in the fundamentals. The current price is situated between key support and resistance levels. In the short term, if the price breaks below the 96,600 support level, it may further test the 90,000 threshold. If support is lost, the price may extend below this week's low of 90,000. Conversely, if the price breaks upwards past the 102,000 resistance zone, it will open up greater upward potential for the bulls, with further targets in the 103,000 range. If the breakout continues, it may reach the psychological level of 110,000. Daily technical indicators show that the current market is in a neutral zone, suggesting that the short-term trend may still require more external driving factors.

On the 4-hour chart, the range-bound trend is evident, with the range set between 98,900 and 101,000. The strategy within this range is to sell high, and during the weekend, the main operation will focus on selling high during rebounds, with buying at lower levels as a complementary strategy.