Bitcoin Strongly Consolidates and Hits New Highs, Beware of Short-Term Pullback Risks
Bitcoin continues to maintain strong momentum, once again refreshing its historical high today, reaching $111,980. Market sentiment remains bullish, with targets looking towards the 115,000-120,000 range. However, subtle changes are appearing in the short-term technicals, warranting caution for potential pullback risks.
Key Signals:
6-hour and 8-hour MACD momentum is weakening, indicating a decrease in upward momentum.
Trading volume continues to shrink, showing a reduced willingness for market chasing.
If a rapid short-term surge occurs, it may be accompanied by a quick pullback, with a focus on 8-hour EMA52 (103,400) and 12-hour EMA52 (101,000) support.
Time Window:
Friday's high-level fluctuations may continue into Saturday, but a potential turning point may occur from Sunday night to next Monday.
There is no risk of a sharp drop at the daily level, but fluctuations at the hourly level may intensify.
Key Price Levels:
Resistance Levels: 111,500 - 120,450 - 131,000
Support Levels: 103,400 - 100,540 - 96,670
Altcoin Opportunities:
As long as Bitcoin maintains high-level fluctuations, altcoins and meme coins will remain active. Short-term traders can seize structural opportunities, but must closely monitor BTC trends to guard against systemic pullback risks.
(The market is constantly changing, and the above analysis is for reference only. Please manage risks accordingly.)
