The coin price on the 4-hour chart is deeply trapped within the narrow range between the middle and lower bands of the Bollinger Bands, although there are occasional attempts to rebound after testing support levels. However, the bullish momentum is clearly insufficient, lacking the energy to drive a trending upward movement. Switching to the hourly chart, the trend also shows signs of fatigue, with attempts to break above the upper band met with strong selling pressure. The upward momentum abruptly halts, and the power is nearly exhausted. In view of this, the subsequent pullback risk is significantly increased. It is recommended to closely monitor the resistance levels above for signs of stabilization. Once it is confirmed that a breakthrough is unlikely, a short-selling strategy can be adopted accordingly.
Bitcoin: Range around 91,500-92,000, with a rebound at 92,500, and support below at 90,500-89,500.
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The coin price on the 4-hour chart is deeply trapped within the narrow range between the middle and lower bands of the Bollinger Bands, although there are occasional attempts to rebound after testing support levels. However, the bullish momentum is clearly insufficient, lacking the energy to drive a trending upward movement. Switching to the hourly chart, the trend also shows signs of fatigue, with attempts to break above the upper band met with strong selling pressure. The upward momentum abruptly halts, and the power is nearly exhausted. In view of this, the subsequent pullback risk is significantly increased. It is recommended to closely monitor the resistance levels above for signs of stabilization. Once it is confirmed that a breakthrough is unlikely, a short-selling strategy can be adopted accordingly.
Bitcoin: Range around 91,500-92,000, with a rebound at 92,500, and support below at 90,500-89,500.