Returning to the #Bitcoin market, it actually corresponds with market data for mutual verification.
In terms of trend, #BTC broke through the 4-hour trendline yesterday, but unfortunately did not hold effectively, then quickly fell below it, and in the short term did not gain effective support. Clearly, market confidence is weak.
Currently, the price has returned again to the 80,000–83,500 oscillation range. Next, it needs to continue maintaining this range-bound movement, waiting for a directional choice.
Optimistic scenario: a pullback tests the 80,000 support effectively, accumulating bullish momentum to attempt a breakthrough at 83,400.
A daily chart pullback means an effective break below 80,000, initiating a deep daily-level correction. At present, 73,000 is a daily-level turning point.
On the 4-hour chart, the MA120 crosses below the MA200, indicating short-term weakness, while on the daily chart, the MA120 is gradually crossing above the MA200, indicating strengthening daily trend.
So the conclusion is very simple: the BTC daily trend is gradually forming a strengthening upward trend, but the hourly level still carries the risk of weakening and correction.
Of course, as I mentioned earlier, after breaking the daily high on September 21, a new trend has already started. Next, we just wait for an effective pullback and consolidation, and once the price rebounds again, the start of the new trend will be basically confirmed! #ETF买盘持续回流，BTC为何仍未走强？
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