8.7 Early Morning Bitcoin Analysis
An afternoon wave of news boosted the market, leading to a violent surge; Bitcoin strongly broke through the previous high of 116,700, driving mainstream coins and altcoins to soar, with overall volatility significantly increasing.
Currently, the price is running around 116,700, experiencing high-level fluctuations and consolidation.
Key focus tonight is on the 117,000 range:
If it cannot effectively break through, it is likely to fall into a high-level sideways range between 116,000 and 117,000, where short-term shorts can play with light positions.
If it strongly holds above 117,000, it is expected to further impact the 118,000-118,800 area.
The market is experiencing severe fluctuations; both bulls and bears must strictly control risks, maintain defensive positions, and don’t get left behind!
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