Analysis of Bitcoin at 6.19 AM
Bitcoin held up around 103300 tonight, rebounding to 105300 before dropping again, and is now fluctuating around 104000.
From the hourly chart, the short-term bottom has emerged. Although it was knocked down after reaching 105500, overall it is still relatively strong. The bulls are currently in control, but the momentum for a rise is somewhat lacking, so it is estimated that it will need to consolidate for a while.
In terms of operation, one can go long near 103500, targeting 105500.
