April 24, 2024

Yesterday, BTC fluctuated between US$67,715 and US$65,475. Today's early trading data shows that it continues to fluctuate within this range, with the key level declining slightly. US$67,715 is now trading at US$67,685, which is still the last important resistance level.

Yesterday, there was a net outflow of approximately US$7.52 billion. Although the resistance was at US$67,685, the flow of funds is becoming bullish support, indicating that the range will continue to fluctuate between US$67,685 and US$65,149.

A break above $67,685 and turning into support could bring further bullish momentum, making it difficult for other resistance levels below $73,000 to curb price gains. $63,699 is strong short-term support for capital flows.

Despite the slight move lower in key levels, the market remains relatively strong in a tight range between $67,685 and $65,149. However, a repeated downside test and move above $65,149 would weaken the swing.

Support lies in the $65,149 to $63,699 range. Daily statistics show a slightly bullish outlook, with a balanced long-short ratio, while significant resistance limits upward momentum. The long-term trend remains bullish, favoring bulls beyond a sharp pullback and closer to key support levels.

On the macro front, weak demand led to a cooling of U.S. business activity in April; the global manufacturing PMI fell to 49.9, a four-month low. A continued slowdown in inflation may be good for the market in the coming period.