The Bitcoin four-hour chart has been consolidating in a tight range above $60,000 for several days. The stage of bottoming has essentially been completed, the sell-side pressure has been fully released, and bullish momentum is steadily recovering.



Current price action is near the upper band of the Bollinger Bands. The Bollinger Bands’ opening is gradually expanding upward, ending the range-bound/consolidation phase. The upward channel is being opened step by step. The MACD has a golden cross with the red histogram bars increasing in volume. The KDJ is in a neutral-to-slightly-strong range. The short-term moving averages are aligned in a bullish “rising” arrangement, and multiple indicators cross-validate a bullish outlook.

The large timeframe and four-hour timeframe are resonating together. The overall bias remains for a rebound to continue. It is recommended to focus on buying pullbacks.

BTC pullback near 62,200–61,600; upside target 63,000–64,200.

ETH pullback near 1,640–1,600; upside target 1,680–1,750.
BTC-0.92%
ETH-0.07%
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