Early yesterday morning, Bitcoin fell to 118050, fluctuating during the day, with a slight decline in the evening. After the CPI news was released, the bulls gained momentum, pulling it back up to the 120,000 mark late at night before retreating.

From the current market situation, the four-hour level has retreated after a rise, forming effective support near the middle track at 118918. It is currently fluctuating around 119600, and the K-line has fallen above the middle track of the Bollinger Bands, which are narrowing. The technical indicators show that the battle between bulls and bears is intensifying, and a short-term pullback may occur before another rebound. Therefore, for future operations, we still maintain the strategy of buying on dips.

Buy Bitcoin on dips around 118500, with a target of 121000.

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