The market has been a bit explosive recently; what should holders do?
Good morning, brothers! Today, the market for $BTC staged a roller coaster performance. In the morning session, the price suddenly faced concentrated selling near 114,200, and the 1-hour K-line produced a significant bearish candle. The KDJ indicator formed a dead cross, and the MACD energy bars showed a clear contraction, with bears temporarily dominating.
However, after quickly releasing panic emotions, the market displayed subtle changes, forming a local bottoming structure. This usually indicates that the short-term selling pressure is nearing exhaustion, and the bears may have run out of ammunition for the time being.
Although the current price is pressed below the EMA24/52 dual moving averages, the defense at the 114,000 support level has become crucial. If it can stabilize here, bulls may welcome a technical rebound window; if it breaks down, further space below should be guarded against.
Looking upwards, the 118,100 area is piled with a large number of trapped positions. Even if a rebound starts, breaking through this price level initially will be quite challenging; it depends on whether the subsequent trading volume can keep up.
For operations, keep a close eye on 114,000 for short-term; if it stabilizes, consider trying a small long position with a target near 116,500 and a stop loss at 113,800. For medium-term positions, wait for the price to break above 115,500 before adding more, with the first rebound target at 118,100, and if it breaks through, aim higher.
The market is currently in a sensitive period of transition between bulls and bears, so don't blindly chase highs or sell lows. Managing your positions is more important than anything else. If you're uncertain, you can follow Sister Rong's lead; the winning streak continues. For those who want to follow the divine strategy and learn the methods, Sister Rong is here waiting for you!
