From a detailed analysis of the 1-hour chart, last Sunday the market showed a pattern of rising sharply and then pulling back. Subsequently, the price entered a sideways consolidation phase to build momentum. Later, the price successfully stabilized above the 91,000 level, clearly indicating that the bullish forces are dominant and relatively strong.



Regarding the overall current market pattern, it is in the midst of a Wave 4 correction. Based on this development, it is highly likely that the market will follow with a Wave 5 upward movement.

Looking at the short-term Bollinger Bands, they continue to narrow. The retracement action in the market yesterday successfully confirmed the lower boundary of the low-volatility zone.

Considering all these factors, it is recommended to focus on buying during retracements.

Bitcoin: Buy near 91,700-91,200, add on dips at 90,700, with an upward target of 92,700-94,300.
BTC-1.39%
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