Monday Morning Bitcoin Analysis

Good morning, the market experienced another plunge in the early hours, reaching a new low of 98,200. This continuous probing downward to test the support level below is quite uncomfortable. Fortunately, the 98,000 mark has held strong, allowing the bullish force to develop and begin a rally back above the 100,000 mark for short-term adjustments. However, Old Wang believes that those who followed the direction given in the early hours can take some profit and exit, while the remaining can chase the rise up to 101,500.

Now looking at the live market, on the 15-minute chart, the price dropped to the lower Bollinger Band and entered an oversold state, then rebounded. The current Bollinger Bands have shifted from a smooth trend in the early hours to an opening shape. The current price is exceeding the upper Bollinger Band and entering an overbought state. This situation may last for a short period, but overall, a correction and decline are expected.

Trading Advice:

Target around 101,500 for Bitcoin, aim for 100,000#以色列伊朗冲突 $BTC .