Returning to the #Bitcoin chart: when we looked at ETF and crypto market data earlier, we reached the conclusion that Friday’s fund flows did not support a strong rebound.
On the chart, the price found solid hourly support near 80,000, then staged a strong rebound. However, the rebound failed to break through the four-hour resistance level—the 4-hour MA200–MA120.
In other words, if the rebound fails to break resistance, the price may continue to trade sideways in the 80,000–83,000 range. And if it tests the 80,000 support multiple times, the buy orders supporting it will be gradually depleted.
A trading range is essentially a process in which the price repeatedly absorbs selling pressure at the top of the range and buying support at the bottom. Whether it breaks out depends on the battle between buyers and sellers within the range. Friday’s ETF data was not encouraging, so I think that if support is tested repeatedly while macroeconomic pressure remains, a breakdown may actually be more likely.
Conversely, if the price breaks through resistance and holds above it, with short-term selling pressure exhausted, we can continue to look for a sustained rebound toward 84,000 or even higher!#萨尔瓦多比特币持仓突破7800枚
On the chart, the price found solid hourly support near 80,000, then staged a strong rebound. However, the rebound failed to break through the four-hour resistance level—the 4-hour MA200–MA120.
In other words, if the rebound fails to break resistance, the price may continue to trade sideways in the 80,000–83,000 range. And if it tests the 80,000 support multiple times, the buy orders supporting it will be gradually depleted.
A trading range is essentially a process in which the price repeatedly absorbs selling pressure at the top of the range and buying support at the bottom. Whether it breaks out depends on the battle between buyers and sellers within the range. Friday’s ETF data was not encouraging, so I think that if support is tested repeatedly while macroeconomic pressure remains, a breakdown may actually be more likely.
Conversely, if the price breaks through resistance and holds above it, with short-term selling pressure exhausted, we can continue to look for a sustained rebound toward 84,000 or even higher!#萨尔瓦多比特币持仓突破7800枚