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The market always provides answers through fluctuations; the continuation of the trend is never achieved overnight. Do not be greedy during the excitement of a surge, do not panic during the oscillations of a pullback, and holding onto key support levels is the most prudent respect for the trend.
Currently, Bitcoin is oscillating below the upper band of the Bollinger Bands at 79,908, having just slightly pulled back after breaking the intraday high of 80,590, which is a stage of "breakout followed by pullback confirmation."
From the candlestick chart, the 4-hour timeframe shows a clear upward trend, with the moving average (BOLL middle band) continuously rising, and the price consistently staying above the middle band, indicating that the bullish trend has not been broken.
BOLL channel: The price briefly pierced the upper band (highest 80,590), then retreated near the upper band, indicating short-term pressure at the upper band, but there is strong support around 78,500 at the middle band, and the overall trend is upward.
The MACD indicator's DIF remains above DEA, with the red bars maintained, indicating that bullish momentum is still ongoing, with no signs of divergence or decreasing volume signals.
Upper resistance: First resistance at 80,590 (intraday high), second resistance around 81,000 (round number + previous resistance zone)
- Support below: First support at 79,000 (current price vicinity oscillation platform), second support at 78,500 (BOLL middle band + trendline support), strong support at 78,000 (above the intraday low)
The 4-hour timeframe remains in a strong bullish trend; the slight pullback after a short-term surge is normal for digestion, with no signs of trend reversal. As long as the price does not fall below the 78,500 middle band support, the bullish trend remains valid. The pullback support holding allows for continued testing of the upper band and previous highs.
Note that the current price is approaching the BOLL upper band, which may lead to short-term oscillation and digestion. Avoid chasing the high; it is more suitable to buy on dips at support levels or wait for a breakout above the previous high before following the trend.