2/10 BTC Intraday Strategy

From the 4-hour timeframe, Bitcoin quickly found support after pulling back to around 68,200 yesterday. After the US stock market opened, there was a noticeable surge with increased volume, reaching a high of 71,104. Comparing this to the recent low of 67,288, it’s clear that the lows are gradually being raised, indicating that the downward move is not driven by panic selling but by sustained accumulation of funds, and the bottom structure is being solidified.

In terms of moving averages, the price is currently oscillating around the MA30 (approximately 69,000). The short-term MA5 and MA10 are beginning to flatten, indicating that bearish momentum is weakening. However, the 71,000–72,000 zone remains a resistance area where the previous high coincides with the upper Bollinger Band, making short-term fluctuations likely.

Regarding Bollinger Bands, the price quickly rebounded from the lower band to near the middle band, with the band width narrowing. This suggests decreasing volatility and that the market is gathering strength for the next directional move. As long as it does not break below 68,000, the downside space remains relatively limited.

Looking at volume and funding rates, there was no significant increase in volume during the rebound, and the funding rate remains low, indicating cautious market sentiment. In this environment, it’s more likely to see a “bottoming + raising lows” structure rather than a direct shift to bearishness.

Trading Strategy:
Monitor the retracement and support around 68,000–68,500, which is a key support zone after the previous low was raised. Consider gradually building long positions here.

If it effectively breaks below 67,500, the structure weakens and needs reassessment.

Short-term resistance above is at 71,000 / 72,000.
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