1.6 Afternoon Bitcoin Market Analysis and Trading Suggestions

Reviewing the early morning trend, Bitcoin continued its strong bullish pattern, breaking through during the session and reaching a high of $94,700. Although it later faced resistance and retraced to around $94,000 for consolidation, our precisely placed long positions have successfully captured over 800 points in profit, confirming the continuation of the current trend strength. The current price remains firmly above the key support level of $93,500, which not only confirms yesterday’s breakout but also serves as the critical dividing line for short-term bullish and bearish shifts. From a technical perspective, the pullback after last night’s breakout is a typical technical retracement within a strong trend and has not damaged the overall upward structure. The 4-hour moving average system remains in a bullish alignment, and the MACD momentum bars continue to expand above the zero line, indicating that the bullish trend remains healthy. As long as the price stays above the $93,500 support zone, the market is likely to consolidate and then extend upward again. The first resistance above is at the previous high of $94,700; a successful breakthrough could open the upward channel toward the $95,500–$96,000 region. On the downside, the bullish defense focus is around the $93,500–$93,200 range, which can be seen as an important support for trend continuation. Operationally, it is recommended to focus on buying on dips, paying attention to stabilization signals when the price retraces to the $93,800–$93,500 support zone, and using small stop-losses to play the trend continuation. If there is an unexpected volume surge and a fall below the $93,000 level, a reassessment of short-term momentum is necessary.