The Bitcoin Long-Short Battle Enters a Critical Window!
The current cryptocurrency market is at a sensitive moment where technical and emotional factors are intertwined. The price curve has formed a temporary high near $118,000, an area referred to by professional traders as the "Price Control Point" (POC), which is becoming a strategic location for both bulls and bears to compete.
From the market structure observation, the $116,000 level has already established the first value support zone. This area is filled with a large number of historical transaction orders, akin to the "Maginot Line" in the digital currency world, where bullish forces have heavily fortified their defenses. If this defensive line holds, the market is expected to continue its upward oscillation; if it fails, the $115,000 spot buy orders will become the last safety net, where long-term holdings of institutional investors are consolidated.
The path for upward breakthroughs is also fraught with challenges. The two round numbers of $120,000 and $122,000 are like two perilous peaks, densely populated with previous trapped positions and profit-taking orders from algorithmic trading. Only by breaking through these two volume-intensive areas can the pathway to the core resistance zone of $126,000-$130,000 be opened. This range not only intersects with Fibonacci extension levels and weekly trend lines, but also carries the market's psychological expectation of a "six-figure Bitcoin."
It is worth noting that if the $116,000 defense line is breached, market sentiment may trigger a chain reaction. Although the $115,000 spot buy orders can create a temporary buffer, the $112,000 monthly support level is the real "Normandy landing site." Here, the miner's cost line and the psychological price level of long-term holders are gathered; if the bearish forces wish to penetrate deeper, they will face fierce resistance.
In this war without gunpowder, every price point carries the collective memory and expectations of market participants. Retail investors act like commanders, maneuvering their troops among the peaks and valleys of the candlestick chart, while trading volume serves as their military supplies.
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