Recently, the market trend has become increasingly regular: daytime fluctuations, nighttime surges, and Saturday short squeezes.

For the past consecutive 5 Saturdays, BTC has continuously raised its price in a slow manner by leveraging the low liquidity environment of the weekend. Although the upward process hasn't been strong and appears somewhat strenuous, the lack of large concentrated selling pressure allows bulls to gradually complete price repair through the method of "time for space".

From a macro perspective, the market still faces many uncertainties.

International oil prices remain high, and if energy prices do not fall soon, global inflation pressure will persist, which may also suppress expectations for interest rate cuts by the Federal Reserve. Meanwhile, the situation in the Middle East remains tense, with recurring geopolitical risks around the Strait of Hormuz, keeping risk assets constantly subject to emotional disturbances.

However, the current cryptocurrency market does not seem to fully follow the fluctuations of macro sentiment, but continues to operate according to its own cycle. Funds still tend to gradually push up prices during low liquidity periods, so the short-term market will still be predominantly focused on oscillation and repair.

Today is Sunday, and as of this morning, there have been no obvious movements in the market; overall fluctuations are still expected to be limited during the day. The truly notable aspect remains the performance of European and American capital gradually entering the market after 20:00 in the evening, at which point a directional choice is more likely to occur.

₿ Bitcoin (BTC)

View: Range oscillation, waiting for a breakout direction.

The current adjustment has pulled back to around 62500. There is a clear increase in buying strength below, and funds have started to gradually return, with prices repairing back to near previous highs through continuous oscillation.

The biggest characteristic of this round of rising is the bulls utilizing time for space.

Prices have been running for about 50 hours continuously. Although the pace is slow, there has not been any significant breakdown, indicating that bull control still exists.

From a cycle perspective:

• 1 hour, 2 hours, 4 hours have reached high positions and are at risk of a technical pullback;

• 6 hours, 8 hours still maintain a repair structure, and the bull cycle has not ended;

• 12 hours have entered a neutral stage;

• Daily adjustments have not completely ended, and further digestion of high position profits is still needed in the medium term.

Technical indicators are also beginning to release cautious signals:

• MACD fast line is still operating above the zero axis but has begun to flatten, with upward momentum slowing down;

• KDJ has entered a high-level dull area, and the efficiency of continuing to rise in the short term is decreasing;

• RSI (14) is about 76, already entering a significantly overbought range, which means the risk of chasing prices is increasing.

In summary, the medium-to-long-term rebound structure has not been broken, but the short-term has gradually entered a high-sensitivity area.

Therefore, the current situation is more suitable for range-bound operations:

• Near the pressure zone, pay attention to the profit-taking pressure after a rise;

• Revisit key support, pay attention to the strength of capital support.

Before the market breaks through with significant volume, it is not advisable to chase prices excessively, and one should patiently wait for directional choices.

Key Position Reference

Support:

• 64200-63000-63600

Resistance:

• 65000-65588-66000-66888
  
  Tencent Meeting 24-hour live broadcast room: 901-588-1279
  

  

This article is originally published by 【Huijing Community】 and represents personal views. Due to possible delays in information transmission, the content is for reference only and does not constitute any investment advice; please make rational judgments and operate with caution.
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