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In the perspective of the 4-hour cycle, BTC exhibits a distinct and robust consolidation pattern. Despite the frequent fluctuations in the market data in the short term, with prices attempting to reach new highs but facing resistance and pulling back, it is noteworthy that the lows during the pullback process are continuously rising. The key support area below is like an impregnable fortress, consistently not effectively breached by the fluctuations, which fully demonstrates the strong buying power displayed by the market during the adjustment phase.
Currently, the price is steadily operating above the middle track of the Bollinger Bands, while the Bollinger Bands overall show a converging upward trend. This technical pattern undoubtedly suggests that the rhythm of the consolidation is quietly tilting towards the bullish camp, with bullish momentum building up.
BTC: around 88300-87800, 87300 for supplement, looking up at 89300-91300 #BTC