Bitcoin trend analysis

Bitcoin is currently trading around 114,800. The intraday market has surged again, directly breaking through the 4-hour MA200, MA240, MA280, and MA80 lines. While the price has retreated, it has rebounded again, supported by these four lines. There is still room for further upside, and it remains to be seen whether it can break through the previous high. A closing pattern has formed within the 1H BOLL channel, with the upper limit below yesterday’s high near 116,000. However, the MACD red bar has contracted, so it is recommended not to rush into shorting! If the second test is successful, the next resistance level will be above 117,200, followed by the daily upper limit at 120,000. If buying, pay attention to the J value in the KDJ indicator, which has reached overbought territory