The Bitcoin market this afternoon felt like a roller coaster ride. It first dropped to around 102,000 to test a bottom, then some funds supported it from below, pushing it up to the resistance zone at 104,000. After hitting the ceiling, the price retreated normally, returning to around the support level of 102,000 to catch its breath. Now the price has bounced back to 103,300, oscillating overall between 102,000 and 104,000.
From the market state, the previous aggressive momentum has slowed down, but overall, it is still a bull market. Recently, there has been a significant inflow of funds, leading to more volatility than before, with not much room for downward adjustments. This current rollback is a normal technical adjustment, and we may need to gather enough strength for another surge. If we can break through the key level of 104,000 with volume, according to technical rules, this level will become a new support level, and we can continue to be bullish at that time.
Currently, there are no signals that this upward trend in the market has peaked. It is best for us ordinary investors to follow the trend and not rush to predict the top. From the daily and weekly charts, various indicators still show that bulls are dominant, and the short-term market is likely to push higher. At this moment, we need to focus on opportunities for price adjustments. As long as bullish funds do not withdraw, every time the price drops to a support level is a good opportunity to go long. However, we must stay alert; if one day it suddenly breaks the key level of 102,000, that could indicate a change in the market.
The market never misses opportunities; the question is whether you can seize them. By following experienced and the right people, we can earn more! Those who are confused about trading can follow Kang Shen.
Focus for the day: OM SUI SOL FUN ETH
