Bitcoin's market showed a fluctuating upward trend last night, with the price continuously climbing from a low point of 114070 to a high point of 115686 before stopping. From the current market observation, the four-hour level maintains a steady upward trend, and the price has gradually approached the upper band of the Bollinger Bands. Although there was a slight pullback from the bears during this period, the momentum was weak and did not shake the overall upward trend. Currently, a strong short squeeze is present, with the price rising without giving the market a chance to breathe for a correction. From a technical perspective, the daily and weekly levels have clearly opened upward space, and Bitcoin has successfully broken through key levels, further solidifying the bullish trend. In terms of operations, it is recommended to use the previous top-bottom conversion point as support and continue with a bullish outlook. The core focus going forward should be on the sustainability of upward momentum, particularly tracking Bitcoin's strength in breaking through upper resistance.
Long positions at 113500–112500 entry