The recent battle for the big bull has remained intensely competitive. Yesterday, despite a breakthrough above 65K, it quickly pulled back, reminding us that this level is also a classic “collecting profits” zone. At present, it is still in a typical multi-timeframe short-term tug-of-war.
Wait for the direction
On the current daily timeframe, the market performance is strong but lacks much follow-through. The market is rebounding and repairing normally; the short-term moving averages are intertwined and moving sideways; the Bollinger Bands are continuously tightening, indicating that the bulls’ strength has not fully opened. On the four-hour timeframe, price is currently holding above the short-term moving averages, and the MACD histogram’s red bars are expanding, meaning short-term bulls have the upper hand. However, overall it is still range-bound at a high level, and it is also facing selling pressure from the area of the prior high points.
Wait for the direction
On the current daily timeframe, the market performance is strong but lacks much follow-through. The market is rebounding and repairing normally; the short-term moving averages are intertwined and moving sideways; the Bollinger Bands are continuously tightening, indicating that the bulls’ strength has not fully opened. On the four-hour timeframe, price is currently holding above the short-term moving averages, and the MACD histogram’s red bars are expanding, meaning short-term bulls have the upper hand. However, overall it is still range-bound at a high level, and it is also facing selling pressure from the area of the prior high points.