The cryptocurrency contract is a practice of confronting human nature—acknowledging risk is the starting point, your position determines your mindset, not the market; stop-loss is the bottom line for survival, take-profit is the wisdom of preserving wealth, and unrealized gains, no matter how beautiful, are just illusions. Don’t be hijacked by FOMO emotions; behind others' huge profits lies an unseen army of liquidation. The market always has opportunities, but the principal does not. After dipping to 116500 in the early morning, the price quickly rebounded to 117500. Although it briefly broke below the 115800 support in the morning, it quickly recovered and reestablished itself around 117500, forming a long lower shadow, indicating strong buying power below. The two attempts to test the bottom without breaking key support show that there is strong bullish defense in the 116500-115800 range, and the bearish momentum is insufficient, with corrections more likely to be a consolidation to gather strength. The current price stabilizes around 117500; if it holds this level, there is a short-term expectation for further testing of the 118000-119000 resistance zone.
From the market perspective, the decline is accompanied by reduced volume while the rebound sees increased volume, indicating that market sentiment is still dominated by bulls. The quick pullback after the brief breakdown in the morning shows that the main funds have a strong willingness to protect the market, and the short-term selling pressure has gradually been digested. If it can maintain a consolidation above 117000 throughout the day, accompanied by moderate volume expansion, then the probability of a second upward attack is quite high. Key resistance is at the 118000 mark; breaking through this level will open up new upward space.
