Bitcoin #BTC maintained a narrow range during the day, currently reported at 118212, slightly rebounding from the low point of 116700 earlier. Technical analysis shows that the Bollinger Bands are in a contraction pattern, with the price stabilizing above the middle band, indicating a short-term demand for technical correction.

Operational advice:

A pullback to the range of 117300-117800 can be used to gradually establish long positions.

Upper target at the round number of 120000.

If it breaks below the support of 116700, the trend needs to be reassessed.