Thursday, October 7th Bitcoin Morning Analysis:

Bitcoin surged suddenly at three o'clock in the morning, accelerating upward in a straight line to the 112,000 line.

The current 4-hour chart also shows a continuous bullish candlestick pattern, but the KDJ indicator is gradually forming a contraction death cross at a high level. The continuous formation of long upper shadows on the hourly chart indicates that there is significant short-term pressure above. Coupled with a gradual decline in trading volume during the day, it will be challenging to continue breaking upwards. The daytime is expected to show a high-level fluctuation trend, and there is a strong demand for technical correction.

Trading advice: Range of 111,500-111,800, target around 110,300-110,000. $BTC