On the four-hour Bitcoin chart, the earlier bottoming process has been completed and the base is recovering, while bearish momentum is gradually fading. The Bollinger Bands are turning upward, and the price is rebounding steadily, currently tracking close to the upper band. This rebound is backed by real capital. The KDJ is also moving upward and has not entered the extremely overbought zone, leaving room for further upside. Since rebounding from its low, the market has been making progressively higher lows, with a steady recovery rhythm—typical bullish corrective action following a bottom reversal. Even if the price moves sideways slightly near the upper Bollinger Band in the short term, this is unlikely to undermine the bullish structure.
The one-hour candlestick chart also shows the Bollinger Bands opening upward. The MACD remains in a golden cross, and the price is tracking close to the upper band. Although the one-hour KDJ is now at a high level, indicating some short-term overheating, as long as the bullish structure on the larger four-hour timeframe remains intact, this short-term indicator overbought condition is more likely to result in brief consolidation during the uptrend than a deep pullback. The short- and long-term timeframes are aligned bullishly: the larger timeframe provides support, while short-term momentum points to continued gains. Don't blindly short just because short-term indicators are overbought; following the prevailing trend should be the priority. If the price breaks above the recent high on strong volume, further upside potential will open up.
Reference: Long at 83800, target 85800, stop 1000 points $BTC
The one-hour candlestick chart also shows the Bollinger Bands opening upward. The MACD remains in a golden cross, and the price is tracking close to the upper band. Although the one-hour KDJ is now at a high level, indicating some short-term overheating, as long as the bullish structure on the larger four-hour timeframe remains intact, this short-term indicator overbought condition is more likely to result in brief consolidation during the uptrend than a deep pullback. The short- and long-term timeframes are aligned bullishly: the larger timeframe provides support, while short-term momentum points to continued gains. Don't blindly short just because short-term indicators are overbought; following the prevailing trend should be the priority. If the price breaks above the recent high on strong volume, further upside potential will open up.
Reference: Long at 83800, target 85800, stop 1000 points $BTC