"Bitcoin surged and then retreated. Is this operation a washout by the main players or a market reversal? Let's understand the market's secrets in three minutes!"
Market Update:
This morning, Bitcoin reached a high of $110,653 before falling back to $109,463, with a 24-hour volatility of 1.2%. There are three major drivers behind this pullback:
Short-term funds took profits around the 110,000 round number.
The cooling of interest rate cut expectations from the Federal Reserve has triggered cautious sentiment in the market.
The recent selling volume by miners has increased, creating short-term pressure.
Key Levels:
• Support below: 108,000 (7-day moving average + previous low double support)
• Resistance above: 110,653 (this morning's high, a bullish breakout)
• Fund movement: Whales are buying on dips, but ETF funds are flowing out in the short term.
Operation Tips:
Short-term traders: Test the waters lightly around 109,500; add positions upon breaking 110,700.
Conservative traders: Hold the support at 108,000; stop loss immediately if broken.
Avoid: Chasing highs and lows outside the range.
"Remember! The market always creates opportunities amidst volatility; the key is to get the rhythm right!"
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Don't pay attention to me? Next time there's a crash, you'll be lining up on the rooftop.