Brother Hao Talks BTC: Fluctuating around the 119,000 mark, keep an eye on these signals!

Brothers, today's BTC market is a bit frustrating! The current price is 119,014, slightly down 0.03% from yesterday, overall volatility is not large but there are significant intraday fluctuations—hitting a high of over 124,500 and a low of 117,449, with bulls and bears competing in this range.

First, let's highlight the support and key resistance levels: on the support side, there are three key points: 118,500 (the daily MA20 position, an important reference for short-term stabilization), 117,000 (the Fibonacci 50% retracement level, which has previously held up against pullbacks), and 115,000 (a key price level in everyone's mind + a dense trading area; if it can't hold, more caution will be needed in the medium term); resistance levels also need to be closely monitored: 120,000 (psychological barrier, which has failed to hold several times today), 122,000 (a region with significant selling pressure technically, with many trapped positions), and 124,223 (previous high point; last time it touched 124,500 it couldn't stabilize, indicating considerable pressure here).

Currently, BTC is in a critical stage of "previous high point pullback + macro environment factors contention": if it can steadily stay above 120,000 and digest potential negative news, coupled with favorable policy announcements, it might trend towards 130,000; however, there are signs of overbought conditions technically, and with short-term selling pressure not fully alleviated, if it can't hold 117,000, it may retrace to around 112,000.

Lastly, let's discuss today's operational reference: the core is to control risk well! At high levels, opportunities can be monitored in the 119,500-121,200 range, with an initial target of 118,250-117,600; in the next couple of days, it might even reach around 117,000-116,500, so it's essential to implement proper risk protection measures when entering! If any brothers are uncertain, give Brother Hao some attention and feel free to call me for analysis anytime.