8.4$BTC Market Analysis:
The market trend on Monday can be summed up as "insufficient rebound momentum, short-term pressure awaiting breakthrough."
In the past two trading days, the trend of #大饼 has lacked vigor. After touching a low near 112000, there were signs of a rebound, but the bulls have not been able to muster enough buying power to push the price consistently upward. Ultimately, the current market is still just a technical adjustment after an excessive decline.
From the daily chart, although the price has recovered the previous trading day's solid bearish candle, indicating a short-term need for recovery, the strength of the rebound is indeed limited, clearly suppressed by the resistance in the range of 114500 - 115000, failing to achieve an effective breakthrough.
Looking at the four-hour chart, the structure of the rebound appears quite weak, as there is a lack of sustained buying support during the price rebound. At this point, it is crucial to keep an eye on the key resistance level of 115000, as well as the pressure from the middle band of the Bollinger Bands. If there is no breakthrough above 115000 today and it fails to stabilize above this level, the market is likely to retrace to the support level below.
In terms of short-term support, 113000 is an important defensive point; if this level cannot be held, the price may once again test the previous low of 112000, and it could even trigger a larger adjustment space. In terms of operations, one must pay attention to the risk of a pullback after a weak rebound and closely monitor the breakthrough and defense of key levels.
