Before the BTC price broke 120,000, I have been saying in my articles for several days that after surpassing 120,000, there is a high probability of a pullback to 115,000-116,000.
Now, whether it's an increase or a pullback, it has already moved as we expected. Next, we should look for a rebound returning above 120,000. (If it's strong enough, we can't rule out the possibility of breaking the new high again.)
I believe the short-term trend will only be upward or range-bound, with no possibility of a crash, so those shorting should take profits in a timely manner. Those who are stuck from going long at high positions don't need to rush to cut losses.
Market Analysis
1h
After the pullback is completed, we should start looking for a rebound. The next rebound might directly break through 123,300, or it might oscillate around 121,000-116,000 as shown by the black arrow in the above image. After that, we can continue to look bullish up to above 125,000.
Short-term
The 15m has started to rebound. Later, around midnight, this rebound is expected to reach around 119,000, then we can observe the liquidity and upward momentum at midnight (the probability of a direct breakthrough is low). If the price encounters resistance around 119,500, there will be another small pullback from midnight to the next day's daytime, with the target still focusing on 115,000-116,000. $BTC #比特币巨鲸动向 #BTC走势分析 #BTC再创新高 #BTC
