#BTC Yesterday, Do head strongly surged to the recent parallel upward zone high point, which is also the watershed for Do Kong. The breakout failed, resulting in two waves of pullback, during which Kong, Do, totaling 2,200 points. Intraday, it was more sideways, and tonight’s initial unemployment claims also looked somewhat promising, although only 0.4, which can be ignored as it has little impact. So, tonight may continue to be volatile or have small unilateral moves.

Overall, the weekly and lower-level Bollinger bands are narrowing, showing no clear signals of upward or downward movement. There are two main reasons: ① Kong head is steadily accumulating in the perpetual market, mainly suppressing the price, forcing Do head to close positions, leading to further pullback. ② Do head is trying to push the price up through leverage, hoping to leverage popularity and institutional support to maintain the support, attracting more buying. Therefore, all moving averages are narrowing, making it difficult for either side to break the level. It’s better to first trade within the range, and wait for clear signals before following with a directional trade.

Range around 788 to 791 for Kong. Range around 767 to 763 for Do. #比特币反弹