Analysis of Bitcoin at 6.26 AM
Bitcoin has recently quietly risen to near the key resistance level of 108000, and I am observing this position.
From the 1-hour chart, the price has formed a small double top pattern near 108000, and after testing the mid-level support, it began to rebound.
On the 4-hour chart, the last double top appeared after 108900, which then retraced all the way down to 98100 before stopping its decline. This time, after a deep V rebound, the focus is on observing the resistance in the double top area between 108000 and 108900.
For intraday trading, one can consider entering the market between 108000 and 108900, with targets set at 107000 and 106000
