September 29 Pancake Morning

On the 4-hour chart, Bitcoin has consecutively formed three bullish candles. The price briefly broke through the upper Bollinger Band, but the Bollinger Band has remained in a state of narrow contraction, without showing an accompanying opening pattern that indicates a price rise. The current price increase is more about the release of short-term momentum.

From the perspective of trading volume, there was no corresponding increase in transaction volume during the recent price surge; instead, it showed a contracting trend, forming a typical volume-price divergence, suggesting that the bullish momentum may not follow through. Referring to the 2-hour MACD indicator, although the short-term momentum bars are red, there has not been a significant increase in volume, and the daily MACD is still below the zero axis, indicating that the medium to long-term trend has not yet reversed, and the short-term rebound may face pullback pressure.

Operation Direction
Around 112500, the target is looking towards 111000#美联储官员集体发声 .