BTC Rally Fades, Can the Range-bound Pattern Break?

1.12 Midday Analysis

BTC's current price is at 91804, showing a rebound pattern after a rally and pullback on the 4-hour chart: After initially rising to the historical high of 94760, it quickly retreated, falling as low as 90021 at the Bollinger Bands lower band, and is now rebounding off the middle band at 90800.

During the rebound, volume did not significantly increase, indicating weak bullish momentum. The price is unlikely to break above the previous high of 94760 in the short term, and is more likely to continue wide-range fluctuations within the current range.

Trading Strategy

Focus on a range-bound trading approach

Consider light long positions when price pulls back to the 90800-91000 range, with a stop-loss at 90000, targeting around 91500

Consider light short positions when price rallies to the 91500-92000 range, with a stop-loss above 92500 USD, targeting around 91000 nearby#BTC走势分析 #币安上线币安人生