The intraday Bitcoin market is continuously under pressure, oscillating downwards from the morning high of 120100, reaching a low of around 117600 during the early session, with an overall decline of nearly 2500 points, clearly indicating a strong determination for a correction. Currently, it is fluctuating around 118600. We publicly indicated at midnight that the key level of 120000 is an important watershed, which is unlikely to be broken in the short term, arranging trades around it. After capturing a profit of 1460 points from Bitcoin, we once again gave trading hints in the early session, which were validated by the market trends, allowing us to secure profits of 1400 points from Bitcoin and 70 points from Ethereum. The two trades executed today both achieved gains, totaling 2860 points from Bitcoin and 70 points from Ethereum, and I believe that as long as we closely follow the strategy, making profits should be straightforward.

From the current market perspective, Bitcoin is showing a wave structure that continues to test downwards. Although the range of movement is not large, the steps are steady and the structure is becoming increasingly solid. The daily chart shows a doji candlestick pattern, with upper and lower shadow lengths being roughly equal. The overall market remains in a tug-of-war state, and compared to the previous two days, the volatility is further contracting, indicating an imminent choice of a major direction. Looking at the hourly level, the Bollinger Bands are parallel and diverging, with the middle band transitioning from a previous important support to a strong resistance, and the recovery speed and strength of the trend are both decreasing to varying degrees. It is expected that the price will further decline from the afternoon to the evening, where we can focus on the breaking situation around the level of 117500, while maintaining a bullish outlook.

Bitcoin: 118800~119200, with support at 117000. #山寨季何时到来？ #BTC再创新高 #Strategy增持比特币 $BTC $ETH