Bitcoin Trend Analysis Today

Weekly: The overall trend remains positive. Focus on fundamentals and the Fed’s rate cut progress. There’s a need for a short-term correction to build momentum, signaling the start of a new upward cycle on the weekly chart.

Daily: After breaking below the lower Bollinger Band, the price found effective support, forming a long lower shadow. This directly indicates strong support below and a near-term potential for a breakthrough. Bullish momentum is gradually increasing, but the trend remains within a downward channel, indicating that this is only a short-term pullback.

4-Hour: The repeated surges and subsequent declines in prices indicate that neither bulls nor bears have established an absolute advantage, and intra-range trading is evident. The market is expected to remain volatile during the day.

Upside pressure: 113,000-114,000
Downside support: 110,000-109,000