Bitcoin Strongly Rebounds 3000 Points! Morning Long Positions Precisely Take Profit, Can Bulls Continue Before Non-Farm Data?
Bitcoin strongly rebounded after dipping to $103,000 in the morning and is currently rising to around $102,800, successfully recovering 50% of yesterday's decline. A V-shaped reversal structure has formed on the 4-hour level, and the MACD indicator shows a bullish divergence signal, indicating a depletion of short-term bearish momentum. If it can hold steady at the support level of $102,500, there is potential for further upward movement towards the resistance range of $104,000 to $105,000.
From a technical indicator perspective, the RSI has risen from the oversold area to around 50, showing a clear improvement in market sentiment. Currently, $102,500 has become the key support level, and a breakthrough will open up upward space. Investors need to pay attention to the impact of the evening non-farm data; if the data falls short of expectations, it may serve as a catalyst for further increases, whereas the opposite could trigger short-term volatility.
In terms of operational strategy, it is recommended to focus on buying on dips; one can accumulate positions in the range of $102,500 to $103,000 in batches, aiming for targets above $104,000. A stop loss should be set below $102,000 to guard against volatility risks after the data is released. Overall, the market favors bulls in the short term, but caution is needed regarding the sharp fluctuations before and after the data release.
