Earlier this morning, the price experienced continuous manipulation, with rebounds during the process, but the bulls still lacked the momentum for an upward breakthrough. Subsequently, the price underwent a sustained correction and recovery. After testing the 95,000 support level downward, it also showed a certain bottoming rebound. However, with the closing of the US stock market, the price volatility gradually weakened. Currently, the price is hovering around 95,000, entering a sideways consolidation phase.

On the four-hour chart, the price broke out quickly with consecutive bullish candles, attempting to test the 98,000 level but failing to stabilize and break through effectively. The price then experienced a bearish engulfing pattern with a correction and recovery, overall showing a tug-of-war and downward oscillation. The current price is above the middle band, and the four-hour MACD indicates that after the bulls failed to push higher, momentum has been continuously diminishing. Therefore, in the future, focus should be on the position relative to the four-hour middle band. If an effective downward break cannot be formed during the day, the overall outlook remains bullish.

In the short-term hourly chart, after continuous tugging around the middle band, the bears temporarily gained an advantage in this round of battle. The price then rapidly dropped near the lower band, testing support below the lower band, and showed some rebound and recovery. The long lower shadow in the consecutive candles indicates strong support below. The bearish momentum is also weakening, so after the market opens, we expect the rebound and recovery to continue. Pullbacks to buy on dips remain a viable strategy.

For Bitcoin, consider long positions around 95,300, watch for around 96,500. For altcoins, consider long positions around 3,280, watch for around 3,400. #加密市场观察