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Bitcoin's recent trend is stuck at the upper band of consolidation, which is a watershed moment. Whether it can break through the previous high of 98070 will directly determine the direction of subsequent market movements. If it fails to break through, a deep pullback is almost inevitable.
**What bulls should do**
Wait for the price to break through 96955 with volume first, then confirm on the hourly chart close before chasing longs. Don't rush—wait for clear signals before taking action. The first target is at 98070 (the previous resistance level), and the second target points to 98900. Set your stop loss 300-500 points below your entry point, or directly place it below the key support at 96260.
If the price stabilizes at 97670 (hourly level) after the breakout, it indicates that the upward momentum is strengthening, and you can add to your position. But remember one thing—only when there's a truly effective break and hold above 98070 can we say we've completely escaped the consolidation, otherwise watch out for false breakouts.
**Opportunities for bears**
Conversely, if the price breaks below 96390 with volume and can't recover back to this level on bounces, then you can chase shorts. Target one is 95700 (4-hour support), target two looks toward 94500. Set your stop loss at 96800.
If the 4-hour chart confirms a break below 96220 and can't recover, then the consolidation structure breaks down, and a deep pullback scenario may kick off—bears can add to positions with the trend.
**Key operational points**
Remember one hard truth: if rallies can't break through 98070, there's a high probability of a pullback. All bulls must stay alert when approaching this level—protect profits when you should.
Any breakout or breakdown must be accompanied by volume; breakouts without volume are basically false signals, don't get fooled.
And most importantly—all positions must have stop losses, especially when operating near key levels. Compared to precise positioning, position management and risk control are what determine how long you can survive.