Recently, I've been watching the 1-hour chart of BTC, and the more I look at it, the more interesting the structure seems. To put it plainly, this consolidation phase is essentially a brewing period for opportunities— as long as it holds above 96,700, a new upward push is highly likely to come, with the recent resistance at 96,950 being the key point to watch.

**Technical Perspective**

The price is currently hugging the upper band of the Bollinger Bands (around 96,635), with the band opening slightly expanding, which is a typical sign of strong consolidation. The key is the middle band at 96,590; as long as the price doesn't effectively break below this line, the bulls remain in control.

The moving average system is also cooperating. The short-term MA7 and MA30, along with EMA7 and EMA30, are aligned in a bullish sequence and diverging upward, indicating that the short-term moving averages are now acting as dynamic support. If a pullback occurs, the first defense zone will be around 96,600 (which is near EMA7).

The MACD indicator has been quite interesting these past two days—DIF and DEA, after sticking above the zero line, have started to rise again. Although the histogram is still small, it has turned positive. This suggests that the downward momentum is weakening, and the bulls are re-accumulating strength.

**On-Chain Data and Whale Activity**

The net inflow of Bitcoin into exchanges has been low for three consecutive days, indicating that selling pressure isn't strong, and holders are clearly reluctant to sell. Meanwhile, whale addresses have been increasing their holdings in the past 24 hours, with many large transfers moving to cold wallets—this is a typical accumulation signal, showing that big players are quietly positioning.

**Macro and Capital Flow**

The Fed's speeches this week have been dovish, boosting risk asset sentiment and improving liquidity expectations in the crypto market. Yesterday, Bitcoin spot ETF saw net inflows again, demonstrating that institutional support is still in play.

**Trading Strategy**

Support levels to watch: 96,590, which is the double support of the middle Bollinger Band and MA30 → below that is the previous low at 96,500. Resistance levels: 96,700 is the intraday high of this move → 96,950 is the previous high, which also acts as a psychological resistance.

My approach is to place buy orders around 96,580, doing it in batches with stop-loss below 96,450. If there's a volume breakout above 96,700, I will follow up directly, targeting the 97,200 to 97,500 range.

Markets fluctuate daily, but to make money, you need patience after understanding the structure, and decisiveness when opportunities arise. The 96,700–96,950 zone is likely to be a key stage for the next performance.