$BTC

The current BTC order book is making a small, temporary consolidation and adjustment in the short term, but the overall upward structure has not been broken. The short-term pullback is only cleaning up float during the rise; don’t turn bearish on the larger cycle due to short-term fluctuations.

Fundamentals: institutional players continue accumulating and building positions. Long-term holders keep their holdings unchanged, and circulating supply tightens. Downside support remains extremely resilient, leaving limited room for a deep drop.

On the technical side, MACD bearish momentum continues to shrink. On the 4-hour chart, the highs and lows are moving up in sync, and moving averages gradually turn to support price. For trading, wait for a pullback to key support to enter long in batches, and avoid chasing shorts against the trend.

Trade plan: go long around 63,000–63,200, with upside targets at 64,000, 64,500, and 65,000.