9.10 Night Bitcoin Analysis and Strategy

Bitcoin is currently in a wide range of consolidation. The key resistance level of 1135,000 is a strong barrier above. Until this level is effectively broken, a clear unilateral trend is unlikely to emerge. However, judging by the short-term trend, the momentum of the pullback has gradually weakened, and the overall upward trend remains unchanged. This short-term volatility is essentially a process of bullish accumulation. Once the range of fluctuations converges, upward momentum is expected to accumulate further, and a subsequent rebound is highly anticipated.

Multi-period trends confirm that the overall market has yet to show a clear direction and remains primarily range-bound. The daily chart previously broke through the middle band but failed to hold steady, subsequently falling back. While the 4-hour chart also showed a similar rise and fall, the decline did not continue. After reaching support near 1100, a rapid rebound began, indicating decent short-term rebound momentum. If bulls can continue to release buying pressure at the 11100 support level, the market is likely to initiate a significant rebound, breaking the current deadlock in the range.
Trading strategy: Buy Bitcoin near 111,100, with a target of around 113,000.