8.4 Early Morning Analysis
Yesterday, the Bitcoin price rebounded to 114400, which is a normal phenomenon, as the market cannot continuously decline without any significant news.
From the current market observation, the pressure level at the 4-hour middle track of 114500 is very obvious. In the afternoon, the volatility of the market gradually narrowed, and the rebound points continued to decrease, indicating that the upward momentum has already consumed more than half of its energy and lacks the drive for further upward movement. Currently, the market is in a state of consolidation, and further declines are just a matter of time.
Recommendation
Bitcoin: Around 114800-115700, target 113800-112500
Second Bitcoin: Around 3520-3545, target 3450-3400
