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This week, the Bitcoin market has shown unexpected resilience. On the 4-hour chart, the support level around $117,000 has held for a full week, which is indeed surprising. Currently, BTC is still oscillating within the range, yet to break through the key resistance level.
From a daily perspective, as the price range gradually narrows and tilts upwards, Bitcoin is approaching the daily mid-track support level around $116,200. If this key support is not maintained, we may need to prepare for further pullbacks.
It is worth noting that the CME futures gap area we mentioned earlier this week, between $114,300 and $115,790, may become a potential target range for a pullback.
This week, the market lacks a clear macro narrative driver, and the remaining focus may be on whether tariff policies can provide positive stimulation for the bulls. However, as the weekend approaches, if there is a lack of strong buying momentum, we may need to continue monitoring the possibility of a pullback at the daily level.
Overall, the Bitcoin market seems to be in a balanced state in the short term. Investors should closely monitor the performance of the key price levels mentioned above to assess the upcoming market direction. At the same time, it is important to pay attention to external factors that may affect market sentiment, such as policy changes or the release of significant economic data.