On the daily chart, prices repeatedly probe the Bollinger Bands’ middle band, meet full resistance and roll back, indicating a long-term tight, low-volatility range. The Bollinger Bands continue to narrow, with bulls and bears locked in a stalemate. In the short term, it’s difficult to break out of the prevailing one-way movement; the market is building strength while waiting for a breakdown/breakout signal.

The 4-hour chart has already completed the bottoming and repair. Support below is solid, and the price is steadily holding at 63,000. Currently, market trading volume is lackluster and the push higher is relatively weak. However, the short-term bullish structure is intact, and overall sentiment leans bullish. For trading, it’s best to wait for a pullback to support before going long, and don’t chase price to enter.

For BTC, you can enter long on the pullback in the 62,300–62,800 area, with an upside target of 66,000.