Yesterday, the technical analysis for the 16th.

Currently, BTC's price is stuck at 95,974, almost hugging the upper Bollinger Band (around 96,596), with the middle band at 91,066 and the lower band at 85,536. The continuous hugging of the upper band indicates—strength is strength, but also quite restrained. If you say it’s about to explode, it hasn't been able to break through effectively; if it’s about to reverse, the pressure is still holding it there. This state is actually a classic "Bollinger Band hugging" scenario—either a sideways consolidation or an expansion.

On the KDJ indicator, the K value is 69.6, D is 60.9, and J is 87. After the golden cross, it’s now in a high-level plateau, which does indicate some overbought pressure. However, the J line is still firmly at 87, showing that the bulls’ momentum hasn't fully exhausted, which is very key. This is not a sign of a complete divergence.

Recently, the volume of the few bullish candles has mildly increased, but honestly, there hasn't been a decisive volume spike yet. The 24-hour high touched 97,932, basically close to 98k, then pulled back. Now it’s oscillating around 95.9k, a typical minor pullback after a failed resistance test.

From the overall structure, after rising from the low range of 80k-86k, it has now entered a dense resistance zone between 95k-98k. Multiple attempts to break through have failed, which is a very critical point.

Support and resistance levels are laid out as follows—strong support at 95,000-95,400, near the current marked price, tested multiple times. Below that is 94,000-94,500, which is a psychological level combined with high volume zones. Then 91,000-92,000, which is the middle Bollinger Band plus weekly support.

On the resistance side, it’s quite dense. 96,500-97,000 is the upper band plus previous highs. 97,800-98,000 is the 24-hour high, adding pressure. Lastly, there’s the psychological level of 100,000.

The trading strategy is—consider building a position if it dips to 94-94.5k, but if you want to go heavy, it depends on whether it can effectively break through 98k. Without breaking 98k, small short positions are also fine, but quick in and out—don’t be greedy. At this stage, it’s a slow bull with high volatility. Compared to gambling on direction, patience is more valuable than impulsiveness.