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Thursday Bitcoin and Altcoin Strategy
From the 4-hour chart perspective, Bitcoin is currently in an ascending wedge consolidation pattern. The upper resistance is at 72,000, and the lower support is at 70,000. The price has been oscillating within this range, repeatedly testing these levels. The MA5/MA10 moving averages are flat and converging, indicating that short-term momentum is balanced and there is no clear directional trend.
The MACD histogram continues to shrink, with the fast and slow lines turning at high levels, showing that the buying momentum is gradually weakening. Resistance above is clearly present. The KDJ indicator has entered the overbought zone and is turning downward, suggesting a potential pullback or correction. The Bollinger Bands are flat, running above the middle band, indicating a generally strong market but lacking breakout momentum.
Trading Strategy
Bitcoin (BTC) in the 69,000-69,500 range, target 70,800, aiming higher, with resistance at 72,000.
Altcoin (ALT) in the 2,060-2,080 range, target 2,150, aiming higher, with resistance at 2,220.