4.6 BTC Market Analysis

After two days over the weekend, the market has remained relatively stable with no significant changes, oscillating as we expected between 65,500 and 69,300. In the early morning, there was a breakout at the 4-hour triangle pattern, reaching the upper boundary of the range at 69,300.

Weekly Chart:
The weekly chart has been oscillating at this level for nearly two months without breaking downward. Currently, the MACD indicator on the chart is about to converge, so in the upcoming weekly timeframe, we should watch whether the MACD can form a bullish crossover below the zero line. The weekly oscillation range will be between 63,000 and 74,600. In the short term, this level will continue to oscillate sideways. After the oscillation and the indicator recovers, it may move downward again to form a larger divergence, which could be a major opportunity for deployment.

Daily Chart:
The daily chart has broken through the neckline level at this position. As long as the price does not break below 68,300, it will continue to oscillate upward. The resistance for the upward movement is around 71,500.

Summary: In the short term, focus on whether the 15-minute chart breaks through or experiences a second rebound. If the rebound does not break 69,400, the price may adjust downward toward 68,300. As long as it stays above 68,300, the market will continue to oscillate upward with limited strength, so both bulls and bears have opportunities.

Support: 68,300 - 67,200
Resistance: 69,800 - 71,600