🔥1. Today's Market Analysis: Technical Analysis on Daily Chart + Chande Theory Diagram Teaching Lesson 20👇

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From the daily chart, the price has broken through the key level of the golden ratio 0.618 and climbed to the top of an ascending flag pattern. This level is significant and has attracted many traders to test their short positions. The main reason is that the higher-level trend has entered an extreme overbought state, with reversal signals beginning to appear, and the main funds may exit the market at any time, triggering a price adjustment.
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Further observation of the daily chart details shows significant price fluctuation range, with a maximum reaching 97850 and a minimum dipping to 96385. In terms of technical indicators, MACD shows a top divergence but is still increasing, and both the DIF and DEA indicators continue to expand upwards, indicating that the bulls still have some strength; the K-line extends upwards relying on the Fibonacci retracement line, the Bollinger Bands open upwards, with the upper band rising to 100000 and the lower band firmly holding near the 90000 level, with a range span of 10000 points, suggesting a larger potential fluctuation space ahead.
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🌹Technical Analysis on the 2-Hour and 4-Hour Timeframes
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Switching to the four-hour chart perspective, BTC is in an ascending flag pattern. This formation is usually a continuation pattern in a price trend, indicating that after a brief consolidation, the price may continue the original upward trend. The upper resistance focuses on the dense resistance area above 98000, where a large amount of previous trapped positions and profit-taking orders have accumulated, posing an obstacle to the price increase; the lower support level pays attention to 96000, and if the price retraces to this level, it is expected to find support and stabilize.
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The MACD technical indicator continues to show increasing volume and accumulation, indicating that bullish funds are continuously entering the market; the DIF and DEA indicators have formed a golden cross pointing upwards and are expanding, further strengthening the bullish signal. Overall, in the short term, BTC still has upward momentum, and the intraday trading strategy remains primarily focused on buying the dips.
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