Last night, Bitcoin strongly broke through the previous key resistance level of 115800, peaking at 116800. The overall trend confirms our previous judgment: breaking leads to strength, with a target above 117000. Subsequently, the market entered the expected pullback and repair phase, with a minimum touching 115571 in the early morning, providing a long position range of 115500-115800. The morning session rose to 117600, allowing a potential profit of 2000 points for short-term long positions.
Current technical analysis summary:
Daily level: BTC faces a high-level adjustment after consecutive bullish closes, which is a technical repair within the bullish inertia. The Bollinger bands are narrowing, indicating a brewing change in direction. The MA10 and middle track support are around 115300; if this level is broken, a deeper round of adjustment may begin.
4-hour cycle: After a series of bullish candles, the first bearish candle appears, with the upper Bollinger band under pressure. The market returns to operating below the upper band, with short-term bearish sentiment rising. Pay attention to the support line at 115000; if broken, look down to 112000.
2-hour level: The short-term TD shows a green 9 top signal, with two consecutive bearish candles forming a clear short structure. The current downward trend is evident, and the rebound to short is still the main theme.
Operational suggestion (strategy revolves around 'opportunities within adjustment structure'):
Rebound short:
In the range of 117800-117500, consider trying to go short with a light position, setting a stop loss above 118300, targeting 116000-115000.
If the market strongly breaks above 118000, the bulls will continue and are likely to challenge the 120000 round number.
Pullback long:
In the range of 114000-114300, try to buy low, set a stop loss at 113500, and target 115500-116500.
Medium-term short position layout:
If it reaches 118500-118000 high again, consider entering medium-term short positions with a target of 113000-110000. This range is a key contention area, pay attention to position control and capital management.
The current market is not a one-sided trend but a typical oscillation repair phase after a trend breakout. The bears are not completely dominant; rather, they are more of a phase leader. Overall, BTC is still in a strong structure; it just needs technical digestion after a short-term rise.
Do not blindly chase at high levels; there are opportunities at low levels. The key in the market is to recognize the rhythm, avoiding being washed out by false breakouts or false pullbacks.
