$BTC 1.4 Saturday Early Morning Bitcoin Market Analysis
During the day, Bitcoin's market was pressured from the high point of 97822 and retested, reaching a low of 96061, which did not break the effective support. Subsequently, the bulls began to consolidate and gather strength. By the evening, the bulls started to exert force, recovering lost ground and reaching a high of 98423. The altcoin, after being pressured from the high point of 3471, retraced to 3421, and then rebounded, climbing up to a high of 3598. Throughout the day, Old Zhang's layout of Bitcoin short positions achieved a gain of 1400 points, while the altcoin short position gained 65 points.
From the daily technical indicators of Bitcoin, both MACD and DIF with DEA are showing positive values. However, the MACD histogram shows signs of a topside divergence, which may indicate short-term retracement pressure. Additionally, as the weekend approaches, the overall market volatility typically does not tend to be large, so focus on preparing for range-bound trading. The current rise is merely a result of normal oscillatory rebound, thus it is expected to see a retracement continue through the early morning.
Bitcoin: Can consolidate near 98500, short-term target 96000
Ethereum: Can consolidate near 3600, short-term target 3500
